Coolpad’s ecosystem and channels to expand
Print Edition
Coolpad, which lured capital from Internet firms Qihoo 360 and Letv recently, will invest 1.5 billion yuan (US$242 million) to improve its ecosystem and expand distribution channels to lift market share in China, it said yesterday in Shanghai.
Mobile security and online entertainment will become killer applications of Coolpad’s models in 2015 after it received total investment of US$760 million from Letv, the country’s leading online video content and TV provider, and Qihoo 360, the country’s biggest online security firm.
“We have established a strong ecosystem and own unique patents,” said Peter Zhou, vice president of Coolpad.
Coolpad, which used to sell phones priced at 700-800 yuan, aims to lift sales of mid-end models costing over 1,500 yuan by 300 percent year on year in 2015, it said.
Coolpad also aims to use the 1.5 billion yuan to build 1,000 brand stores and 6,000 outlets across the country within three years, Zhou said.
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