Longcheer Achieves 35% Growth In FY08 Revenue
Mainboard listed Longcheer Holdings, a leading China mobile phone designer announced a 35% increase in FY08 revenue to Rmb3.29b ended 30 June 2008. Data released from Ministry of Industry and Information Technology showed that the group’s total shipment volume in FY08 rose 45% to 12.9m, thereby outpacing the industry growth of 7.6%.
In addition, growth initiatives to tap overseas markets are making positive progress. Group earnings was 4% higher at Rmb196.2m. Going forward, Chairman Tao Qiang said, “The global market for mobile handsets continues to be robust. As we become increasingly competitive, there are significant opportunities for us to continue growing both in China and beyond.
3G products and exports of 2G products will account for a larger share of the Group’s total business. We will intensify our overseas marketing efforts to build on the strong momentum achieved in new geographical regions.â€