Skyworth Digital Holdings Ltd. (00751.HK) is seeking 80 percent sales growth for its internet television brand Kukai, muscling in on rivals LeTV and Xiaomi Technology Inc.
The growth target works out to one million units of Skyworth’s new brand compared with 550,000 sets last year, according to the Hong Kong Economic Journal.
LeTV sold 1.5 million units last year, double the 2013 volume.
Skyworth, which relies heavily on sales of conventional TV, cleared 13.17 million units globally last year, including 9.46 million units in mainland China.
It is aiming to sell 15 million televisions worldwide and 10 million in the country.
Also, the company is planning to collaborate with Tencent Holdings Ltd.(00700.HK) to produce video and game content under an revenue-sharing model.
Meanwhile, Skyworth chief executive Yang Dongwen lamented declining product margins, saying cut-throat competition among television makers is to blame.
Translation by Vey Wong
[Chinese version 中文版]
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