Retail in Asia

In Trends

China’s ZTE to sell 100m phones a year by 2015

China’s ZTE, 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 number four handset producer and fifth-ranked telecoms gear maker, has fared better than crosstown rival Huawei Technologies in mobile sales, but lags its local peer in its mainstay telecom equipment business.

(Source: CNBC)