MAJOR domestic construction machinery maker Sany Group, which has been hit by a sustained market slowdown, is venturing into smartphones, as part of a plan to diversify away from heavy machinery.

    Sany is the latest among several companies jumping into the local smartphone market. They include Chinese video site LeTV, Qihoo 360 Technology and Gree Electric Appliances.

    Plans by Sany to launch the SANYV8Pioneer 4G model were first revealed by users of WeChat, a popular social messaging app, last week, with sales of the 1,699 yuan (US$273.97) handset to start June 8.

    Xiang Wenbo, president of Sany Heavy Industry Co., which is part of Sany Group, confirmed the launch date and the pricing via his personal Weibo microblog account Wednesday. He did not say whether the firm would manufacture the handset itself, or the amount of investment.

    Sany executives could not be reached Friday for comment.

    Sany, Zoomlion Heavy Industry Science and Technology Co. and other heavy equipment makers are diversifying into sectors unrelated to their core businesses as a slowing Chinese economy curbs demand for their products.

    China’s tech sector has been one of its leading lights, even as the country’s economic growth slows. The tech-heavy ChiNext index has more than doubled this year, making it one of the hottest share markets in the world. (SD-Agencies)