Coolpad (02369.HK) has overtaken Apple and Samsung in 4G smartphone sales in mainland China, the Hong Kong Economic Journal reported Thursday.
The domestic brand grabbed 23.1 percent of the market in May, compared with Samsung’s 18.8 percent and Apple’s 15.7 percent, the report said, citing mainland market research firm Sinomax.
All other brands on the top 10 are Chinese, including Lenovo (00992.HK), which took the fourth spot, Huawei Technologies, seventh, and ZTE (00763.HK), eighth.
Analysts said the high price of Apple’s iPhone models has made it difficult for mainland mobile network carriers to provide subsidies for sales promotion. The flagship iPhone 5S costs over 5,000 yuan (US$802.36), compared with Coolpad’s 4G phones which are sold at about 1,000 yuan.
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