Business
22:46, 04-Aug-2017
Chinese phone makers focus on overseas markets for new growth
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Chinese smartphones had taken over almost half the world’s market share by the second quarter of this year, with leading brands like Huawei, Xiaomi and Vivo entering not only emerging nations but also developed markets.
Apple and Samsung are still leading in their rankings, while Huawei, Oppo and Vivo occupy the next three places. Xiaomi, Vivo, Oppo and Huawei were the fastest-growing Chinese brands outside China. Xiaomi’s overseas shipments soared 324 percent in the second quarter over the same period of last year.
Apart from just Chinese brands going overseas, Chinese mobile makers are also getting more orders from emerging markets to manufacture phones for local brands, and Shanghai’s RGK Group is one of them. 70 percent of the company’s production goes outside China to retailers in the countries of Southeast Asia, South America and Africa.