Sony expands business in China
24/6/2004 13:08
Sony Corp announced to raise its investment by US$200 million in China
during this fiscal year as of March 2004 in order to fulfill its sales target of
US$8 billion by 2008.
Sony has maintained a rapid growth in its Chinese
business as of 1999, with its sales in China increasing by 70 percent to reach
US$1.7 billion last fiscal year.
"China is Sony's third largest consumer
market, next only to the United States and Japan, and also the fastest-growing
market for us," said Sony Chairman Nobuyuki Idei at a press conference in
Shanghai yesterday.
Nobuyuki Idei and other top executives including Sony's
President Kunitake Ando are in Shanghai to review its Chinese business and
attended an opening ceremony for the Sony Gallery showroom.
The
US$1.5-million showroom, second of its kind in China, located at the Huaihai
Road of the city center, takes up three stories with a total space of more than
1,000 square meters. It has attracted 100,000 visitors since its trial operation
on May 17.
"Sony Gallery not only shows our latest products, but also
displays Sony's culture and philosophy," Chairman Nobuyuki Idei said.
Also
yesterday, Sony unveiled a US$1-million software research and development center
in Shanghai Pudong Software Park in Zhangjiang Hi-tech Industry Park.
The
center, with office space of 3,400 square meters and another 8,000 square meters
in spare areas for future expansion, aims to offer more new products
specifically for the Chinese market to satisfy domestic consumers' growing
demand for high-tech products.
The center will focus on not only software
development, and design of electronic appliances and facilities as well, with
the number of software engineers in the center to reach 100 by the end of this
year.
Wendy Zhang/ Shanghai Daily news
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