Panda Mobile has signed mobile phone supply contracts with two big dealers, Jiangsu Wuxing Electrical Appliance Company and Zhong You Pu Tai Company, showing that the company is gradually winning back dealers after its financial problems a few months ago.
These two new contracts combined total 880,000 mobile phones valued around CNY100 million.
According to Zhou Zhenyu, president of Panda Mobile, Panda Mobile has reached agreements with a number of other dealers to sell a minimum of 2 million mobile phones this year. Panda Mobile will supply high-end mobile phone products with cameras and MP3 players to these dealers.
Panda Mobile has also begun to adjust its dealership policies, give priority to larger chain stores. Local media report that Panda Mobile is negotiating with retail giants like Gome and Suning.