(Yicai Global) May 15 -- Chinese biggest online retailer JD.Com Inc. and online security firm Qihoo 360 Technology Co. have renewed their two-year partnership to help Qihoo further its smartphone business.
JD will offer its expertise in finance, big data, supply chains, product planning, operations and marketing, QQ Video reported. In return, Qihoo will develop more high-quality products to be sold on JD's e-commerce platforms.
Qihoo's mobile sales are heavily dependent on JD, its exclusive online channel for new products. The partnership helped more than double Qihoo's smartphone sales during JD's June 18 shopping festival last year, compared with 2016, making the brand the fourth best-seller among Chinese brands.
The phonemaker sold five million handsets in total last year, breaking even for the first time since entering the market in 2015 via a partnership with Coolpad Group Ltd. It set an annual sales goal of four million in April 2016 when it first partnered JD and the retailer set up a dedicated team to improve branding for Qihoo smartphones.
Editor: James Boynton