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Amoi Electronics (600057.SH) president Lu Zhenyu said Tuesday that the company would position itself as the number one domestic brand in the medium- to high-end mobile handset market after an internal reshuffle, the Oriental Morning Post reported. “The number of medium- to high-end mobile handset makers accounts for just 20% of the total but they reap 80% of the profits across the entire mobile handset market,” Lu said. Amoi Co Ltd lent $14.49 million (RMB100 million) to its debt-ridden listed unit Amoi Electronics in mid June in exchange for a 43.09% stake and China Electronics Corporation (CEC) lent it $57.97 million (RMB400 million), which will be repaid over one year, for a 51% controlling stake. Amoi Electronics reported RMB800 million in losses last year.

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