Electronics

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The domestic mobile phone market is already a red sea, and in order to expand its territory, many mobile phone manufacturers have already extended their tentacles overseas.

The growth of mobile phone business in overseas markets has promoted the overall increase of ZTE's consumer business. In the first half of this year, ZTE's consumer business revenue increased by 16.5% year-on-year. On August 30th, during an institutional survey, one of the reasons for the growth of consumer business was the growth of mobile phone revenue in the overseas market, which increased by nearly 40% year-on-year.

Lenovo Group has also achieved good results in its overseas smartphone business. In the first quarter of 2022, Lenovo Group's sales in the Americas and Europe Middle East Africa markets increased by 8% and 1% year-on-year respectively, benefiting from the steady growth of smartphones and other businesses. Among them, in the field of smartphones, the North American and Latin American markets are the most advantageous markets for Lenovo Group.

However, some people are happy while others are worried, and not all companies' smartphone businesses are going smoothly overseas. Since the beginning of this year, Xiaomi Group's performance in overseas markets has been very dismal. According to Xiaomi's financial report, in the second quarter of 2022, the company's overseas market revenue was 34 billion yuan, a year-on-year decrease of 22.0%, accounting for 48.4% of the revenue, a year-on-year decrease of 1.3%.

In recent years, Xiaomi Group has been performing well in overseas markets, and this interruption of high growth may be closely related to its frequent troubles in overseas markets. In January of this year, the Indian Ministry of Finance accused Xiaomi India of tax evasion and issued a fine of 6.53 billion rupees (approximately 550 million yuan); In April, it was revealed that Xiaomi's subsidiary in India was seized with assets, involving up to 55.513 billion Indian rupee (equivalent to RMB 4.806 billion). Following the Indian market, Xiaomi was fined 3.2 million euros (approximately RMB 21.76 million) by the Italian antitrust agency AGCM in July this year. A series of events have to some extent impacted Xiaomi Group's overseas business.

Unlike Xiaomi, although it has not been frequently criticized by local regulatory agencies, Chuanyin Holdings, which is deeply rooted in the African market, has also failed to achieve impressive results, resulting in a situation of increasing income without increasing profits. In the first half of 2022, the company achieved a revenue of 23.109 billion yuan, a year-on-year increase of 1.11%; The net profit was 1.654 billion yuan, a year-on-year decrease of 4.23%.

Which regions are still worth exploring when domestic mobile phone companies go overseas? Senior experts in the mobile phone industry have analyzed that looking globally, the current mobile phone market in Latin America is still worthy of deep cultivation by Chinese mobile phone companies.

He believes that from a brand perspective, among the top brands, Xiaomi, OPPO, and vivo are currently based in the Chinese market, with India and South Asia as the second markets, and Europe and Southeast Asia as the third markets; Honor currently has its main market share in China; In terms of other brands, realme mainly focuses on the Indian and South Asian markets; Communication is mainly focused on the African market. Overall, although some manufacturers have extended their reach to the Latin American market, the local market share of domestically produced mobile phones is relatively not high, which is worthy of continuous cultivation by mobile phone manufacturers.

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