Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Qiao Xing Mobile Reports RMB 84 Mln Net Loss in Q3 2009

PR Newswire, 1/27/10

Chinese mobile phone manufacturer Qiao Xing Mobile Communication (NYSE: QXM) has issued its earnings report for Q3 2009, ended September 30, 2009, with revenues reaching RMB 410.7 mln, down 32.44% year-on-year.

Net loss for the quarter came to RMB 83.8 mln, compared to a net profit of RMB 150 mln in the same period of 2008.

Total handset shipments in Q3 2009 came to 406,000 units, down 35.5% YoY, which the company primarily attributed to fewer new model launches and a slow-down in shipments amid increasing competition in the handset market. The average selling price (ASP) of handset products decreased 15.84% YoY to RMB 866 (USD 127) in the quarter. The lower ASP was attributed to the launch of lower-priced VEVA-series products to target the lower-end market and more aggressive pricing.

To view Qiao Xing Mobile's full earnings report, please click here.

Keywords: sales volume loss profit wireless Q3 2009 QXM Qiao Xing Mobile Communication revenue fiscal report

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports