C.E.O Mr. Jason Woo at Hong Kong based equity researcher The Woo Group today announced plans to focus on the fast growing Chinese smart phone market in the 3rd and 4th quarters of 2013.
Jul. 11, 2013 - HONG KONG -- Dr. Lian Cheung, Head of Investment Analysis, at Equity researcher The Woo Group has located what he believes to be a huge gap in the smart phone market. At a recent press conference he said,
"While the high end of the smart phone market has been dominated by the likes of Apple and Samsung over the past few years, we believe that no one is producing a mass selling handset for the low end of the market.
There are many consumers in emerging markets, who simply can´t afford to spend $500 on a phone." Dr. Cheung has sent delegates to visit the factories of several low-cost electronic manufactures across China, Thailand, and Taiwan. He believes that a modest handset could be produced for a retail value of $150 off contract which is much less than the current generation of smart phones that retail for upwards of $600. Dr. Cheung is quoted as saying that at their current price point, the phone would be a huge success in enormous markets such as India and China.
Critics of the venture say that their price point is too low, but Mr. Cheung believes that by not using the latest technology, their goal can be reached. He said, "If a dual core CPU is used as opposed to a quad-core CPU our target price should be easily obtainable.
The Woo Group believes that at least one handset targeting the lower end of the market will be in production for the end of the fiscal year and that the handset hits the market for the second quarter of 2014.
C.E.O Mr. Jason Woo said “the smartphone market has seen great momentum in recent years, but still there is much room for growth and investor speculation”.
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The Woo Group was established in 2002 by the founding fathers Jon and Jason Woo, of the Hong Kong Woo family, whose enormous wealth and expertise in the financial industry ensured immediate success, which The Woo Group continues to enjoy today.
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