Global telecommunications player ZTE Corp. is eyeing to secure a 5-percent market share in the Philippine smartphone space with the launch of new models.
Perry Ji, ZTE deputy director of mobile device marketing department, told reporters it was a “good opportunity to enter the Philippine market,” which he described as “huge.”
The mobile phone brand recently introduced the Blade Series, which has three varieties: ZTE V40 Design, ZTE Blade V40 S and ZTE Blade V41 Vita. The 5G-enabled units, which retail between P7,999 to P11,999, are designed with at least 128 gigabytes (GB) of data storage.
ZTE also launched RedMagic 8PRO, a model designed for mobile gamers. This model, which comes in 256-GB and 512-GB varieties, sells for at least P42,999.
“The Philippine smartphone market is as competitive as it gets. Plenty of brands are all vying for a bigger piece of the market share,” said Justin Li, CEO of devices at South and East Asia for ZTE.
“We at ZTE are ready to dive in because we are confident that we have something amazing to offer for all segments,” Li added.
The units are being distributed by Qstar Mobile Inc. and Cirebon Trading Inc. in the country. ZTE, founded in 1985, has presence in over 160 countries and employs more than 72,000 employees.
“In the Philippines, ZTE will continue to be the industry’s solid partner in driving the digital economy through key projects that were instrumental in expanding and providing innovative technology and cost-efficient solutions and products to support our customers,” Li said.
According to International Data Corp.’s (IDC) Quarterly Mobile Phone Tracker, local smartphone shipments declined by a record 8.6 percent to 16.3 million units last year due to rising consumer prices.
“Though inventory levels started to normalize towards the end of 2022, IDC is lowering its forecast for 2023 as vendors will remain cautious in their shipments amid the looming economic uncertainties and accelerating inflation,” IDC Philippines senior market analyst Angela Medez said.
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