ZTE investment aims at battling rivals
Print Edition
ZTE Corp, which signed a strategic cooperation deal with the National Basketball Association yesterday, will invest 200-300 million yuan (US$33-49 million) annually in marketing and promotion of mobile phones globally over three years.
The investment seeks to lift ZTE’s brand awareness, boost revenue and expand distribution channels to help the world’s fourth-biggest smartphone maker compete against Samsung and Apple, the Shenzhen-listed firm said yesterday.
“We don’t like a price war (in the mobile phone market). Compared with sales, we pay more attention on our brand awareness and revenue,” said Ye Weimin, ZTE’s senior vice president in charge of the handset business.
Meanwhile, ZTE yesterday became NBA’s mobile phone partner in China for three years. ZTE’s logo will appear in NBA games, and NBA content will be installed in Memo 5s, ZTE’s latest flagship model released yesterday.
Since this year, ZTE’s strategy has been to develop middle and high-end products costing more than 1,500 yuan each instead of making entry-level ones priced less than 1,000 yuan.
Ye said that within two years the income from the segment may contribute 50-60 percent of ZTE’s total handset business, up from 25 percent now.
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