Sales of mobile phone handsets in China may reach 100m this year, South China Morning Post said. Minister of Information Industry Wu Jichuan forecast that China would add 52m more mobile phone users in 2003. Later, Steve Lau Siu-ying, chairman of Fortune Telecom Holdings, predicted that about a quarter of China's existing mobile phone users would replace their handsets this year, generating a further 50m in sales.
Discussing the prospects for the handset market, Lau Siu-ying said that domestic brands would score over foreign competitors because they would be better able to cater to local tastes, such as a preference for foldable handsets. He predicted that three domestic brands would come to the fore: Amoi Sonic, Panda and DBtel, whose low production costs would give it a price advantage.