Gionee President William Hu Says Samsung is Greedy!

Gionee’s president William Hu was in India for the launch of Gionee Elife S5.5, the thinnest smartphone so far. What is the company’s global strategy?

Gionee’s president William Hu was in India for the launch of Gionee Elife S5.5, the thinnest smartphone so far. What is the company’s global strategy? he asked himself during his keynote. And the answer: “Globally we only benchmark with Samsung. My target is to bring better products at a better price than Samsung.”

“We want to bring products that are priced at 60-70% compared to Samsung,” Hu said. Interestingly, the phone has many Samsung manufactured components in it. The company has sold 24 million phones worldwide. Of that, nearly 1 million were sold in India with 6 local partners.

The company wants to sell over 6 mn units in India in 2014 with less than 15 models. After India and China, the company plans to launch in 40 other countries. Hu also made a frontal attack on Samsung, calling it a “greedy company,” because its products are costlier.

The company said that it currently has Rs 500 cr sales in India. “We believe that we can reach Rs 2,500 cr,” said Arvind R Vohra, who runs Gionee in India. The company will invest Rs 150 cr in branding and marketing this year. It wants to setup 2500 shop in shop units and 750 service centers.

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