Gome aims to boost smartphone sales

The Chinese electronics retailer Gome Electrical Appliances Holding Ltd on Monday signed a contract with handset makers, including Samsung Electronics Co, Nokia Corp and LenovoGroup Ltd, for 12 million cell phones, with the aim of boosting its smartphone sales and market share in the world's biggest smartphone market.

China Market Monitor Co Ltd, a Beijing-based research firm, predicts that China's smartphone market will more than double and reach 140 million units this year, compared with only 17 million in 2009. The firm estimates that 90 million smartphones costing less than 1,500 yuan ($236) will be sold this year.

Currently, smartphones account for 60 percent of all phones sold at Gome. The company aims to increase that figure to 80 percent by early May. The company also plans to turn 800 of its 1,700 retail outlets into flagship smartphone stores this year.