Chinese smartphone maker Coolpad expects overseas sales of smartphones last year to have tripled and surpassed CNY2 billion ($324 million), chairman and CEO Guo Deying said at the company’s annual meeting.
Guo added that Coolpad has been the leader in China’s 4G smartphone market for the last four months of 2014. According to China-based Sino Market Research, Coolpad was the largest 4G smartphone vendor in the China market with a share of more than 15 per cent. The company expected to ship more than 20 million 4G handsets last year.
Guo said he still sees significant opportunity in China’s 4G smartphone market, with 4G handsets forecast to account for 70 per cent of its shipments to China this year, C114.net said.
He also expects steady smartphone growth in Asia Pacific – 12 per cent over the next three years – and strong demand in Africa.
At the end of last year, the Hong Kong-listed company started pushing a four-channel strategy, covering operators, e-commerce, social networks and overseas markets. Products are sold under three brands — Coolpad, Dazen and ivvi, with each having independent operations.
Guo said its cooperation with Qihoo 360, which aims to integrate online and offline business models, “will push the Dazen family to a new level”, C114.net reported.
Qihoo 360, a leading internet company in China, invested $409 million in December to take a 45 per cent stake in a joint venture with Coolpad. The venture will design, manufacture and market mobile devices that are distributed via the internet – following the marketing strategy of fast-growing rival Xiaomi. Smartphones will be sold under the Dazen brand.
Coolpad’s revenue in the first half of 2014 increased 55 per cent to HKD14.9 billion ($1.92 billion).