Chinese smartphone maker Coolpad Group released its annual performance for 2015, stating that its operating revenue was HKD14.668 billion, a year-on-year drop of 41.09%; but its net profit attributable to shareholders was HKD2.311 billion, a year-on-year increase of 353.25%.
Coolpad said that the major reasons for the decrease of its combined revenue in 2015 was because its business structuring, severe competition, and the growth slowdown of the Chinese smartphone market combined for ill effects.
According to the report, by December 31, 2015, Coolpad's 3G smartphone sales were HKD1.596 billion, a decrease of 86.9% compared with the HKD12.179 billion in 2014. Coolpad said the major reason for the revenue decrease was because the company stopped making new models of 3G smartphones in 2015 and focused on the development of 4G smartphones.
In 2015, Coolpad's 4G smartphone sales were HKD12.791 billion, an increase of 3.7% compared with the HKD12.332 billion in 2014. The revenue contribution ratio of 4G smartphones increased from 49.5% in 2014 to 87.2%.
In 2015, Coolpad's income from mobile application services was HKD236 million, a year-on-year decrease of 32.4%; its financial service revenue was HKD27.1 million, a year-on-year increase of 577.5%; and its revenue from the sales of other products was HKD18.4 million, a year-on-year decrease of 50.1%.
Source: Coolpad's Smartphone Operating Revenue Sinks 41% As Chinese 3G Declines
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