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China's 'Apple-Killer' CEO Says The iPhone Maker Can Be 'Too Stubborn Sometimes'

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China's 'Apple-Killer' CEO Says The iPhone Maker Can Be 'Too Stubborn Sometimes'
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Few people outside of China are familiar with the billionaire entrepreneur Duan Yongping. He is the founder of Oppo and Vivo, two of the leading smartphone brands in China and Apple Inc. (NASDAQ: AAPL)'s most resilient competitors. As of July of last year, Oppo was China's largest smartphone maker with a 22.9 percent market share versus Apple's 9 percent stake.

Apple Is 'Stubborn'

Yongping spoke with Bloomberg in an extremely rare interview and offered his take on why he is beating Apple in the Chinese market — a market that is vital to Apple's growth.

Yongping said that Apple's biggest problem is that it failed to adapt its phones to local markets. He recognized this flaw and conquered the Chinese market by designed phones Apple refused to do, namely a more price sensitive device that boasts high-end features.

In fact, he even said Apple is "too stubborn sometimes" and this is why the company "couldn't be us in China." He did, however, acknowledge that Apple does make a lot great products, including its operating system which is why the iPhone is one of the four devices he personally uses.

Ironically enough, Yongping is also a large investor in Apple as he recognizes and appreciates the company's dominance across the world. He also said that Apple's profits could reach the $100 billion mark in five years.

"Apple is an extraordinary company. It is a model for us to learn from," Yongping said. "We don't have the concept of surpassing anyone, the focus instead is to improve ourselves."

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Posted-In: Apple China China Duan YongpingEmerging Markets Markets Tech Media Trading Ideas Best of Benzinga

 

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