Since last few years Chinese mobile phone manufacturing industry has inflated at an unprecedented rate, the growth of Chinese Mobile makers has made the industry to grow at faster rate than forecast, Chinese smartphone makers are expected to surpass the U.S and South Korean Giants Apple and Samsung in the next few years.
The revenue for the mobile manufacturing industry in China has been increasing at 9.9 percent annually through 2017. The estimated revenue in 2017 reaches $184.7 billion, indicating growth of 10.3 percent as compared to previous year.
China has now become the world’s largest base for mobile manufacturing
During the past five years and because of substantial changes in the industry including rapid development of domestic manufacturers their sales globally, technological changes, development of 3G and 4G mobile technologies has made China to grab the opportunity and become the leader in manufacturing, China is currently producing more than half of the global mobile manufacturing output, since the government has relaxed rules to produce more and more mobile phone in 2003—According to IBIS world report.
There are many critical success factors for business in the global market but the most important factors for Mobile phone Manufacturing Industry are;
Strong Financial and Debt Management
Established Brand Names
Effective Product Promotion
China is leading in all the above critical factors, their financial management is unbeatable, government support for the domestic companies such as financial management, taxes, income, rebates cannot be found anywhere else. Chinese brands have made their name in China rapidly and steadily on the global front. Their product promotion is another remarkable achievement despite the U.S. and European market restricting them to enter in their countries.