ZTE aims big with ambitious growth plans
Print Edition
ZTE Corp hopes that its flagship models targeting high-end users and overseas expansion will ensure that it becomes the world’s third-largest smartphone player in several years, despite the lower sales growth in the domestic market in 2015.
The Shenzhen-listed company, which yesterday released a new flagship model, Axon, with dual rear cameras which can take 4K videos, aims to sell more than 60 million phones globally in 2015, slightly more than last year.
The company hopes to sell 6 million Axon models in the Chinese and the US markets, said Adam Zeng, ZTE Mobile Devices CEO.
“For us, sluggish domestic market is not a bad news,” he said. “We care more about unique advantages and core technologies rather than only sales.”
Within several years, the top-three smartphone brands “will be a US-based firm and two Chinese companies including ZTE,” Zeng said without naming the companies.
Currently, ZTE is world’s No. 5 smartphone maker behind Apple, Samsung, Huawei and Xiaomi.
In 2015, China’s smartphone sales is expected to grow only 2 or 3 percent annually, compared with double-digit growth last year. It will squeeze market profitability and phase out weak players, said research firms Gartner and IDC.
ZTE is betting on high-end products like Axon and overseas expansion, especially in the developed countries.
The Axon has a 5.5-inch body with Qualcomm’s top Snapdragon 810 processor. It features dual rear cameras and fingerprint recognition. It is already taking pre-orders on online stores of ZTE and JD.com yesterday with a starting price of 2,699 yuan (US$435).
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