360 aims to sell 10 million smartphones annually 'within two or three years'

Shanghai-listed 360 Technology aims to sell 10 million smartphones annually “within two or three years”, China’s biggest online security firm said today.

Even with Chinese smartphone sales expected to drop by 15 percent year on year in 2017,  Li Kaixin, president of 360’s handset business, is confident that domestic brands are able to find their niche in the market.

With its “healthy finance conditions” 360 has set its sights on selling about 10 million units annually within two or three years. The phones will cost from 1,000 yuan (US$152) to 2,000 yuan, said Li.

The company's handset sales this year are expected to be around 5 million units, the same as in 2016.

360 launched a new model N6 Pro today and the phone features a full-display screen and enlarged battery capacity. It sells for 1,699 yuan.

360 Technology has recently returned to the A-share market through a backdoor listing in Shanghai when the company injected assets into Shanghai-listed SJEC Corp.