ZTE Corp. (000063), China’s second-biggest maker of telecommunications equipment, will more than double its Asia Pacific sales to $4 billion from about $1.8 billion by 2015.
ZTE (763), based in the southern Chinese city of Shenzhen, expects to also boost its workforce in the region by 30 percent over the next three years, Zheng Bang, ZTE’s Asia Pacific president, said in an interview in Singapore in today.
“The company will work with operators to achieve this target,” Zheng said. “We will also make use of the advantage we have in new technology to boost our sales.”
ZTE became the world’s fourth-largest mobile-device seller in the fourth quarter, behind Nokia Oyj, Samsung Electronics Co. and Apple Inc. (AAPL), according to data compiled by Bloomberg. ZTE’s smartphone sales will more than double this year to between 40 million and 50 million units as it gains share in Europe, North America, Brazil and Japan, Executive Director He Shiyou said at the company’s annual analyst day on April 23.
ZTE shares dropped 12 percent in Shenzhen trading this year, compared with the 4.6 percent in the benchmark Shanghai Composite Index. (SHCOMP)
In the Asia Pacific region, Zheng said he expects ZTE’s market share to double to 10 percent in three years.
ZTE also said today it plans to increase investment in the U.S. by 10 percent a year, betting on growth in the country’s smartphone market. ZTE supply-chain partnerships in the U.S. total more than $13.7 billion, it said in the statement distributed by Businesswire.
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