Handset maker widens loss in H1
By Zhu Shenshen |
August 27, 2009, Thursday
|
Print Edition
Print Edition
NINGBO Bird Company, which used to be the No. 1 China-brand handset in the domestic market, posted a wider loss in the first half of the year yesterday due to a tough economic environment and fierce competition.
In the first six months, Ningbo Bird widened its loss to 38.54 million yuan (US$5.67 million) from 22.08 million yuan a year ago.
The company's revenue totaled 458 million yuan in the period, a 64.55 percent plunge from the previous year.
"The global financial crisis has impacted sales in both the domestic and overseas markets. The cut-throat competition still exists in the market," said Ningbo Bird in a statement to the Shanghai Stock Exchange yesterday.
Ningbo Bird was the No. 1 home-grown brand between 2003 and 2005, which helped domestic handset firms to occupy over 50 percent of the market.
New home-grown firms, such as ZTE, Lenovo Mobile and Tianyu, now lead the domestic market.
"Firms with strong telecommunication background (like ZTE) or distribution channels (like Tianyu) have the advantage over traditional domestic handset makers like Ningbo Bird," said Sandy Shen, an analyst at Gartner Inc.
In the first six months, Ningbo Bird widened its loss to 38.54 million yuan (US$5.67 million) from 22.08 million yuan a year ago.
The company's revenue totaled 458 million yuan in the period, a 64.55 percent plunge from the previous year.
"The global financial crisis has impacted sales in both the domestic and overseas markets. The cut-throat competition still exists in the market," said Ningbo Bird in a statement to the Shanghai Stock Exchange yesterday.
Ningbo Bird was the No. 1 home-grown brand between 2003 and 2005, which helped domestic handset firms to occupy over 50 percent of the market.
New home-grown firms, such as ZTE, Lenovo Mobile and Tianyu, now lead the domestic market.
"Firms with strong telecommunication background (like ZTE) or distribution channels (like Tianyu) have the advantage over traditional domestic handset makers like Ningbo Bird," said Sandy Shen, an analyst at Gartner Inc.
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