China has 240 million devices, which is 30 percent of the world’s mobile device market. There’s no doubt about the growth potential of this market, according to Dr. Jaime Gonzalo of Huawei Technologies.
Clearly there’s a mobile boom that all companies need to pay attention to in order to grab market share. Dr. Gonzalo continues his discussion by offering important insights that should shape your strategy for entering China. These consumers prefer more expensive phones, trading in the cheaper models at a faster rate than anywhere else in the world.
In China, the phones are all about apps. 56 percent of Chinese consumers make payments on their smartphones. This fact is important because no matter how great your app or service, it doesn’t matter if your audience doesn’t trust paying for it by phone. These consumers simply won’t convert.
However, China is a country that has pending propensity, a solid trust in mobile payments, and lives for their smartphones. These are high value users waiting for more services, products, and applications.
Dr. Gonzalo noted some western companies have already figured this out and are finally doing it right. Uber China entered the market and partnered with local experts. What they discovered is that Chinese consumers do want everything Western.
That goes for their Uber and Airbnb experiences as well as online games and music. In the top ten mobile games, three are Western.
The message here is that you shouldn’t think these consumers don’t want what you may be offering. They do. Understand the ecosystem through savvy local Chinese experts now or you’ll miss out on this incredible Internet boom.
To see more of Dr. Gonzalo’s insights, watch the full video below: