ZTE to open 20 new stores, 3 overseas
Print Edition
ZTE Corp yesterday said it plans to open about 20 new stores this year, including three overseas, as it seeks to achieve a 25 percent rise in smartphone sales.
Adam Zeng, head of mobile devices, said 2016 would be a “strategic year” for the Shenzhen-listed company as it seeks to “improve brand awareness and boost sales to 60 or 70 million units” in a flat market.
The company is planning to double its marketing spend to help drive sales of high-end products in the United States, Europe and Japan, he said.
ZTE sold 56 million smartphone around the world last year, with more than 60 percent of its sales coming from overseas markets. Sales in the first quarter of 2016 grew just 0.2 percent year on year to 334.9 million units, giving it a 3.4 percent share of a market headed by Samsung, Apple, Huawei, Oppo and Vivo, according to United States-based research company IDC.
The three store openings planned for foreign shores will be in Germany, Russia and Mexico, Zeng said, without giving specific locations.
ZTE’s sales in Europe in the first quarter were second only to Apple, he said.
Also yesterday, the company released its new Axon 7 model — developed in partnership with BMW’s Designworks — in Beijing. ZTE hopes to sell 2 million of the handsets this year, Zeng said.
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