Most shares hold by Tinno
Wiko: Meet the Chinese smartphone maker with a French twist that's set to conquer Europe
Chinese-French smartphone maker has already made its mark in the Hexagon, and now it's got its sights set on taking its unique recipe for smartphone sales further afield.
Wiko Mobile has been something on a phenomenon in France. Launched in 2011 in the city of Marseille, the company now claims to be the second-largest online smartphone vendor in France, with 14.2 percent market share as of this May.
According to estimates by CCS Insight, the company sold 1.7 million smartphones in the country in 2013, accounting for eight percent of the market. Wiko itself claims last year's sales reached two million handsets, based on GfK research figures.
Wiko's 'French touch' is regarded as an important factor behind the company's success in the country, where buying 'made in France' has become a clarion call of president Francois Hollande's government.
However, George Jijiashvili, research analyst at CCS Insight, points out that Wiko employs just 65 people in Marseille, and only four members of the workforce are actually engineers.
That's because Wiko is in fact almost completely Chinese. To be accurate, Jijiashvili said it is widely reported that
a Shenzhen-based company called Tinno Mobile Technology owns 95 percent of the company and is responsible for most design and production functions.
Far from being 'made in France', Wiko smartphones are actually made in China. The French team focuses on tasks such as localisation and marketing, Jijiashvili said.
Wiko is gaining something of a reputation for being shy about speaking about its Chinese associations, if reports about the company are anything to go by. As yet, requests for confirmation about when Tinno acquired its stake, and if 95 percent is accurate, were not answered.
A spokeswoman for the company noted that Wiko has a strong partnership with Tinno, which has its own production chain. "That allows us to control the production, delivery and quality and that allows us to be very flexible and responsive," she said.
China has many such companies, they just make money secretly.
I actually like it....
They should sell them in China!
@cirr @jkroo @JSCh @grey boy 2 @terranMarine @Two @Dungeness @Lure @AViet