Lenovo to double smartphone sales within one year
March 29, 2012 Category Uncategorized
Lenovo is expected to more than double domestic sales of its smartphones in the next 12 months as it focuses on mid-priced handsets. The firm forecast to sell about 13 million smartphones in the year to next March, up from an estimated 6.2 million this year, according to a recent report by Bernstein Research. “Lenovo is betting big on mid-range smartphones in the USD100 to USD200 average selling price range, a segment we expect will see explosive growth,” Bernstein Research Senior Analyst Alberto Moel said. Lenovo’s mobile internet and digital home business unit contributed about USD570 million of the firm’s total USD8.4 billion revenue in the quarter to December. Chief Executive Yang Yuanqing said last month that he believed the mobile internet business would become a growth engine for the group. Lenovo’s competitors in the mid-rage smartphone market include Huawei Technologies, ZTE, Coolpad-maker Yulong Computer Telecommunication Scientific (Shenzhen), Shanghai-based SIM Technology, Beijing Tianyu Communication, TCL Communication, and new entrant Xiaomi Technology. “We estimate that the segment will grow from about 18 million units last year to 70 million units in 2016, accounting for most of the smartphone growth in China,” Moel said. “We forecast the total revenue in this segment will rise from about USD3 billion last year to over USD10 billion in 2016.” According to Strategy Analytics and Bernstein Research, 84 million smartphones were sold in China last year. Most handsets were priced between CNY1,200 and CNY1,900, with those in the premium range priced above CNY1,900. Nokia, Samsung and Apple remained China’s top-three smartphone brands last year, with a combined market share of about 60%, followed by ZTE and Huawei, with a combined 15% market share. Lenovo, which ranked 10th among the smartphone brands last year, sold most of its handsets through China Unicom. In the quarter to December, Lenovo sold 3 million smartphones and 3.5 million 2G phones, the South China Morning Post reports.
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