Innovations Help Companies Break Into International Market
Instead of lower prices to gain advantages in the international markets, local Shenzhen companies are concentrating on innovations instead. Even in a complicated international environment, high tech companies such as ZTE , Huawei, and TP-LINK performed well in foreign markets in the first half of this year.
Driven by growing innovative ability, the city’s local private companies sharpened their competitive edge in the international market. Huawei already had a growth of 40% by exporting 72 million terminals in the first half of this year and currently maintains a lead in the mobile broadband market. ZTE have also report a 36 percent increase in their sales coming from foreign businesses. TP-LINK has captured the largest global WLAN and Broadband CPE marketshare in the first quarter of this year.
ZTE market share in the United States and Europe have increased thanks to the sales growth of their mobile phones of up to 300 percent from January to June. Other local companies also reported sale of more then US$68 billion in imports and exports in the first six months this year.
Private companies involved in foreign trade contributed 28 percent of the city’s total revenues in just seven months. And because of an improved innovative ability the companies in Shenzhen gradually gain access to high end international market and were able to export mechanical and electrical products worth more than US$ 100 billion.