Smartphone vendor says low price, high quality will be winning formula in the world's most competitive market, reports Gao Yuan.

Telecom equipment maker ZTE Corp's Senior Vice-President Cheng Lixin holds high hopes for sales in the United States. The industry veteran, who oversees ZTE's North American business, aims for the company to become a top three smartphone vendor in the world's most competitive market within three years.

The goal is considered aggressive even by the standards of many world-famous brands such as Google Inc, Microsoft Corp and Sony Mobile Communications Inc. But according to Cheng, ZTE's innovation strengths, well-executed branding campaigns and "affordable premium" customer strategy will make the target achievable.