Chinas ZTE to sell 100 million smartphones a year by 2015

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Monday 23rd of April 2012 05:46:18 AM
Chinas ZTE to sell 100 million smartphones a year by 2015
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China's ZTE Corp, which launched its first basic mobile phone in Africa little more than 10 years ago, said it could be shipping 100 million smartphones a year by 2015, as it looks up-market to reverse a decline in its handset margins.

ZTE, which sold 15 million smartphones last year and could sell up to 50 million this year, also said it would launch its first two phone-cum-tablet 'phablets' this year, hoping to branch out from China's fiercely competitive mobile mass market.

ZTE, the world's No.4 handset producer and fifth-ranked telecoms gear maker, has fared better than crosstown rival Huawei Technologies Co Ltd in mobile sales, but lags its local peer in its mainstay telecom equipment business.

Both have diversified into consumer gadgets, selling dongles, smartphones and tablets to drive revenue growth as the telecom equipment sector stagnates, and both have met stubborn resistance in the United States where cyber-security issues have kept the telecom equipment market largely off-limits.

ZTE, valued at $9.3 billion, has expanded its footprint in emerging markets and Europe, though it said last month it was scaling back operations in Iran due to sanctions over Tehran's nuclear development program.

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