Dixintong, one of the largest mobile phone retailers in China, is scheduling acquisitions worth RMB1 billion to expand its market share in China.
Jin Xin, vice president of Dixintong, has told local media that the acquisitions would be settled in the first half of next year.
Jin says that Dixintong is now seeking appropriate targets for acquisition, which are expected to be some of China's strongest regional mobile phone retailers. Jin also added that Dixintong is preparing for an IPO in Hong Kong next year.
Dixintong currently has 556 chain stores in 24 provinces and cities across China. It plans to reach 800 stores by the end of this year and 1000 by 2008.