Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Technology & Telecom Tools: Save | Print | E-mail | Most Read | Comment
Amoi to record Q4 loss
Adjust font size:

Amoi Electronics expected its loss for the year will exceed 460 million yuan (US$62.16 million), which the company lost in the first nine months, Shanghai-listed Amoi said in a recent statement.


Xiamen-based Amoi previously expected to have a profitable fourth quarter due to the launch of new handsets with stock and GPS (global positioning system) functions. Now the company expected to lose money in the past quarter, Amoi said in a statement to the Shanghai Stock Exchange.


Amoi's former president Li Xiaozhong resigned two weeks ago and the company appointed Lu Zhenyu in his place.


Lu attributed the loss in the fourth quarter to fierce competition in the domestic market, where Nokia and Sony Ericsson dominate.


"It was a tough year for the first-generation homegrown handset makers, like Ningbo Bird and Amoi, squeezed by both overseas and home-grown rivals," said Sandy Shen, a Gartner telecommunications analyst based in Shanghai.


"Foreign firms including Nokia still had the highest market share and new Chinese stars surged such as Tianyu and ZTE," Shen added.


In the domestic market, the era in which a successful model can make a firm survive has passed, industry insiders said.


The low-cost phone strategy and expansion in rural areas also eroded homegrown firms' profit margin, according to Li Xuefang, an analyst at CCID Consulting, a Beijing-based research firm.


China's average phone price was 1,142 yuan in 2007 compared with 1,408 yuan in the previous year.


(Shanghai Daily January 3, 2008)


Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
China Archives
Related >>
- Local phone makers ring up losses amid squeeze
Most Viewed >>
-January CPI expected to rise 6.5%
-Lucrative Yuanmingyuan duplication scheme
-Tight monetary policy must not be eased
-Lenovo to sell mobile unit for US$100m
-Housing prices rise 10.2% in major cities in Q4

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © All Rights Reserved E-mail: Tel: 86-10-88828000 京ICP证 040089号