Electronics

How to find customers when mobile phone companies go overseas? Easy Foreign Trade Find Huacheng Foreign Trade Software!

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 has also made good achievements in its overseas smartphone business. In the first quarter of 2022, Lenovo'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 smartphone and other businesses. Among them, in the field of smart phones, North America and Latin America are the most advantageous markets for Lenovo.

However, some people are happy while others are worried, and not all companies' smartphone businesses are going smoothly overseas. Since this year, the achievements of Xiaomi in overseas markets have been very bleak. 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 has been performing well in overseas markets. 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, to some extent, have impacted the overseas business of Xiaomi.

Unlike Xiaomi, although it has not been frequently challenged by the local regulatory authorities, Transsion, which is deeply involved in the African market, has failed to achieve remarkable results, resulting in increased income without increased 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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