ZTE Forms Independent Terminal Subsidiary Focused on China Market
iFeng Tech, 3/22/18
Chinese telecom equipment and terminal manufacturer ZTE Corporation (0763.HK; 000063.SZ) recently announced that it has set up an independent subsidiary called ZTE Smart Terminal (ZTE Terminal China) to focus on the Chinese handset market. The new company is wholly-owned by ZTE Corporation and will operate independently. Cheng Lixin, CEO of ZTE's handset business, will serve as chairman with responsibility for global market operations, and Bai Bo, general manager of ZTE's China handset business, will serve as general manager with responsibility for China market operations.
Cheng Lixin said that in 2017, ZTE once again ranked eighth within the global mobile phone market, and that this result was achieved prior to organizing efforts to develop the Chinese market. Cheng previously told online media outlet iFeng Tech that ZTE's China market sales only accounted for 10% of its total phone sales in 2017.
Bai Bo said that after setting up ZTE Terminal China, ZTE will adopt a new model in terms of distribution channels, and will invest significantly in brand development. ZTE will provide strong resource support to ZTE Terminal China in terms of products, distribution channels, branding, and human capital, to help ZTE begin a mainstream brand in the Chinese handset industry within the next three years.
Keywords: smartphone handset wireless 000063.SZ 0763.HK ZTE Cheng Lixin smart terminal Bai Bo
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