FILIPINO mobile brand Myphone is looking at reaching a P1 billion worth of revenues this year following a "good" performance in 2009 with revenues reaching P500 million.
With an average sale of P70-P80 million a month, Solid Broadband Corporation president David Lim said they can hit the P1 billion mark within the year.
Sales of the Filipino brand have gone up based on the account of retailers in Davao City.
"The ingenuity of the phone, which appeals to the Filipinos, its concept [that] creates curiosity and its affordability are the very factors why Myphone is a hit among consumers," Roy Garcia, proprietor of the Myphone concept store in the city, said.
Garcia cited the change in sales of his nine other mobile phone shops. "It used to be dominated by the major players, but when Myphone entered, it immediately rose to the second spot."
In 2009, Myphone products performed well in the local market despite having started in 2008 only.
"We sold over 400,000 units in 2009 alone. We are selling to telecommunication companies but we are now more focused on the open market," Lim said.
With its good performance in 2009, Lim is confident that the Filipino brand will continue to make waves this year, especially as global leaders in the mobile industry face numerous setbacks, ranging from increasing overhead costs to very steep competition among themselves.
"We were in 7th place during 2009, but we hope to land in the top 5 this year, maybe even top 3," Lim said.
Starting off with its Pinoy phone concept in early 2009, Myphone has started to eat up a good portion of the market, creating a niche of 2 percent market share in 2009.
Myphone was started by the Solid Broadband Corporation (Solid Group) of the Lim family, the same family behind the distribution of Sony in the country, dubbed as the first Filipino brand in the mobile phone industry.
Lim and other MyPhone executives were in the city Monday for the kick off of the company's "Qwerty Invasion" promotion.
Starting in Davao, the group will visit other cities nationwide including the cities of Cebu, Iloilo, Bacolod, Baguio, and Metro Manila.