Will the monkey play havoc with China's tech gurus?
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E-mail China Daily, February 4, 2016
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Huawei Technologies Co Ltd founder Ren Zhengfei. [Photo/China Daily] |
Huawei's Ren is about six months younger than Liu. The founder of the world's biggest telecom equipment manufacturer seems to be enjoying a golden age.
Ren said in January the company is looking to grow its annual sales of consumer electronics to a whopping $100 billion within five years. The company is challenging Samsung Electronics Co Ltd and Apple Inc in the high-end smartphone market while clinching top position in the enterprise market.
But Ren's goal may be too ambitious to realize after all. To achieve the target, Huawei will need to maintain 30 percent revenue growth each year in its smartphone sales until 2020. It now sells around 70 percent of its handsets in China and its presence in the United States is next to zero.
Huawei tried to penetrate developed markets with its premium devices last year, but ended up offering discounts to dump inventory.
I believe Ren's company will need to fight extremely hard in overseas markets in 2016, and its prospects are far from bright.
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