Ningbo-based mobile communications product manufacturer Bird has predicted a loss for the company for the first half of this year.
Bird said in its announcement that due to fierce market competition and its simplified product structure, the company will suffer a loss in the first six months of this year according to preliminary accounting from their financial department.
In the same period of 2006, Bird achieved CNY31.2 million in net profit, while the report of the first quarter of 2007 shows that the company saw CNY19.327 million in net profit.
Ningbo Bird is a high technology company established in October 1992, and recognized by the State Ministry of Science and Technology and by the Chinese Academy of Sciences. Headquartered in Fenghua, Zhejiang Province, Bird is listed on the stock market exchange in China. As one of the largest mobile phone companies, Bird produces primarily mobile phones, PDAs and system equipment.