Qiao Xing Universal Telephone, Inc. announced that is subsidiary, Qiao Xing Communication Industry Ltd. ("QXCI"), expects a substantial increase in both sales and profits from the fixed line telephones for the current financial year over those recorded for 2002.
According to QXCI, the company has been leveraging on the nationwide distribution network of more than 3,500 points of sales to aggressively market its products. In addition, it has also been working closely with the branch offices of China Telecom and China Netcom in 13 cities and provinces to offer products with value-added services like the short message phones. Because of the more advanced technology element, such value-added phones would enable QXCI to enjoy a higher gross margin. On the other hand, QXCI is also putting in more efforts to expand its export business and it anticipates its 2003 export quantity to be significantly higher than that of 2002.