Coolpad obtains financing for 4G handset expansion

Coolpad reports jump in smartphone sales, profit

Chinese smartphone maker Coolpad said its net profit in the first five months of this year was substantially higher than the year-earlier period. In a notice to investors, Coolpad said it saw a "significant increase" in net profit compared to the HKD 212.8 million reported for the six months ended 30 June 2013. The strong performance this year was due to the "significant growth" in sales of smartphones, Coolpad said. The company will release first-half results by the end of August.