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Sony expands business in China
(eastday.com)
Updated: 2004-06-24 14:39

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.

People watch Sony robot dogs displayed at its Sony Gallery on Huaihai Road in Shanghai yesterday. Sony Corp said it is going to invest an additional US$200 million in China during the current fiscal year ending March 2005.

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.

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