China’s ZTE Corp ,today announced that the company is targeting USD 800 million revenues in next year. As the world’s fifth-largest telecom equipment and smartphone maker by sales expands its retail presence in the country.
ZTE earlier this year started selling smartphones and tablets in the booming Indian market through retailers. It also provides wireless data cards.
As a part of its large retail expansion plans, the company plans to invest USD 10 million in marketing and branding initiatives in India ,for its new exclusive experience zone in Gurgaon,where it showcases company’s limited edition smartphones, data cards and accessories. The company will set up many more stores in other high potential cities and will continue to invest aggressively in our terminals business.
ZTE claims substantial growth with overall revenues accounting to more than 400 million USD until October 2013 through the telecom sector is witnessing a slow growth.
The company will leverage its strong position in the global smartphone market to develop products focused on three key segments: 4G, high-end devices, and phones based on newer platforms such as latest android, windows and the firefox operating system.
Xu Dejun, chief executive officer, ZTE India, said, ”While online purchasing is fast picking up in the country, there is still a large Indian audience which prefers to have a hands-on experience of the product before making any purchasing decision.”