Hong Kong: Chinese handset maker ZTE aims to garner 10 per cent share of the global smartphone market within three years as it expands its portfolio of Grand and Nubia devices, introduces wearable technology products and sets up retail stores across the world.
"Technology is changing fast and we want to offer the best to users at affordable prices. There is a huge potential in wearable technology and with our smartwatches, we want to offer the best to our customers but at affordable prices," ZTE Corp Head (Handset Strategy) Lv Qian Hao said at the sidelines of the ZTE International Media Spring Luncheon 2014 here.
The firm has less than 5 per cent share in the smartphone market, he added. Research firm Gartner put global smartphone sales at 250.2 million in the July-September 2013 quarter.
Samsung was the segment leader with 32.1 per cent share, followed by Apple (12.1 per cent), Lenovo (5.1 per cent), LG Electronics (5.1 per cent) and ZTE's Chinese peer Huawei (4.7 per cent).
ZTE, which used to supply handsets to operators, is now betting big on the open market. It aims to increase smartphone sales by 50 per cent to 60 million devices this year.
"In most countries, including India, sales from handsets bundled by operators is declining. At the same time, the open handset market is booming led by smartphones. So, we are focusing on offering the latest devices which are at par with products from the likes of Samsung and Apple," Lv said.
He added that ZTE sold 40 million smartphones last year and is looking at sales of 60 million units this year.
In value terms, 30 per cent of the smartphones sales are expected to come from 4G LTE devices, Lv said.
Joining the wearable technology brigade, ZTE will launch its 'Grand Watch' by the end of this quarter competing with giants like Samsung and Sony.
Besides, ZTE will roll out the successor of its Grand S smartphone - Grand S2 - in this quarter across 10 major markets, including India. The Android-based 2.2 GHz quad-core device was unveiled at the CES 2014 in Las Vegas last week.
Shenzhen-headquartered ZTE is also looking at setting up 1,000 branded stores in China (mainland) and other countries like India and Indonesia. It will look at both franchise and company-owned stores models.
"We have a three-step plan spread over the next two years. First, we will set up the brand stores in mainland China and North America. Next, we will focus on western Europe, Japan, India, Russia and Indonesia. After that, we will look at other countries," he said.
Talking about the Indian market, Lv said the country has a huge potential to grow.
"Through these stores, we want the user to experience our brand and if they have any problems with the devices, they can seek help. In India, we are looking at setting up two flagship stores in Delhi and Mumbai," he said.
Asked about the proposed product lineup over the next few months in India, Lv said the company will focus on the USD 200-300 range.
"Over the next few months, we will launch a series of devices, including our premium Nubia range. I think USD 200-300 is a sweet spot for us," he added.
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