Coolpad looks overseas to expand smartphone sales
The mainland brand aims to provide customised models for network operators in overseas markets, after posting 94pc first-half profit rise
Coolpad, one of the mainland's leading smartphone brands, plans an aggressive expansion into overseas markets and greater online sales as domestic competition intensifies in the second half of this year.
In a filing with the Hong Kong stock exchange late on Wednesday, chairman and chief executive Guo Deying said Coolpad would sharpen its focus on providing customised smartphones for mobile network operators in Asia, North America, Europe and other markets.
"The group will launch more new 4G models to the market in the second half of 2014, which cover from the high-end to mid- and low-end," Guo said.
Shenzhen-based Coolpad posted a 94 per cent increase in first-half net profit to HK$412.86 million, up from HK$212.44 million a year earlier, on higher gross margins and brisk 4G smartphone sales.
The group will launch more new 4G models … in the second half of 2014
Revenue grew 55 per cent to HK$14.93 billion from HK$9.65 billion in the same period last year. Sales of 3G smartphones made up 63.2 per cent of total revenue, while 4G smartphones contributed 35.9 per cent.