ZTE to Reorganize Handset Business
China Business News, 8/20/13
Lv Qianhao, Director of Handset Strategy at Chinese telecom equipment and terminal manufacturer ZTE (0763.HK; 000063.SZ), has stated that the company plans to reorganize its handset business in the hopes of better meeting smart terminal development trends in China over the next 2 to 6 years.
Company reorganization will primarily involve ZTE's handset R&D, marketing, and human resource departments.
ZTE spokesperson He Shiyou has previously stated that ZTE will establish an independent R&D team, and strengthen the relationship between ZTE R&D and marketing teams. According to Lv, ZTE will open 1,000 image and brand stores in major offline retail stores around the country this year. ZTE is targeting handset sales to reach 50% of company revenue in the next three years, as compared to 30% at present, ranking ZTE as one of the top three handset vendors globally.
According to Lv, ZTE met its performance expectations in the first half of the year and is on track to ship 45 mln handsets in 2013.
Keywords: Lv Qianhao strategy smartphone handset sales He Shiyou handset wireless 000063.SZ 0763.HK ZTE corporate restructuring
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