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CNY 1,000 Smartphones Take up 60% Lenovo Phone Shipment
[January 11, 2013]

CNY 1,000 Smartphones Take up 60% Lenovo Phone Shipment

Jan 11, 2013 (SinoCast Daily Business Beat via COMTEX) -- According to an industry insider, the shipment of smartphones priced about CNY 1,000 accounted for 60% of the smartphone shipment of Lenovo Group Limited (SEHK: 0992) in 2012.

According to the information previously announced by Lenovo, it only took about 14% share in domestic smartphone market in the third quarter, compared with a share of 15% reported by Samsung Electronics. The company saw smartphone shipment of more than 7 million in the period, up 18 times year on year. It is disclosed that about 4.5 million or 2/3 of the smartphones were sold in domestic market.

Since launching the first best-selling smartphone model A60 priced around CNY 1,000 in 2011, Lenovo has been accelerating the pace in launching new products. The company aims to triple smartphone shipment this year and to make the number reach 18 million by the end of this year. Seen from the current sales data, the mobile phone maker will be able to outperform the task.

However, the strategy of low-price competition has made Lenovo mobile phone department suffer losses all the time. The department reported losses of USD 70 million in the first quarter of 2012. Speaking of this issue, the CEO said that the company would see profit in mobile phone business in the first half of this year.

Source: (January 11, 2013)

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