China’s ZTE hopes to almost double US smartphone share

The world’s seventh-biggest smartphone maker, ZTE Corp (0763.HKG, 000063.SHE), aims to almost double its US market share within three years by increasing spending on marketing, Reuters reported. ZTE targets a US market share of 10% by 2017, up from 6% in 2013. It would still be far behind Apple (APPL.NASDAQ) and Samsung Electronics (005930.KRX), which hold 41% and 26% of the market, respectively. The Shenzhen-based company, which trails behind Huawei Technologies in selling smartphones and telecoms equipment, was essentially shut out of the US and other markets after government security concerns about Chinese-made equipment.