Wendy Zhang/Shanghai Daily news

The 2010 World Expo and rail transport in Shanghai will bring more opportunities to Siemens, said Klaus Kleinfeld, Siemens AG president and CEO in the city yesterday, today's Shanghai Morning Post reported.
As one of China's largest cities and a financial center, Shanghai is Siemens' important strategic market in China, said Kleinfeld, who had come to China for the first time. "All Siemens businesses have entered the Shanghai market," he stressed.
"Our handset business will be separated from the group as it suffers one million euros (US$1.3 million) in losses every day," Kleinfeld pointed out, adding that further solutions are not decided yet.
Kleinfeld, replacing Heinrich Von Pierer, former CEO and President of Siemens AG, in January this year, said he likes to face challenges and pays more attention to performances and results.
Acting as CEO of Siemens USA in 2001, Kleinfeld was famous for strict cost-cutting. When Siemen USA reported US$553 million in losses, he sold or closed unprofitable units and helped the company regain profitability in just one year. In 2003, the company registered US$561 million in profits.
Kleinfeld believes that there is no perfect individual but a perfect team.