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Hitachi unveils China growth strategy

Posted: 19 Oct 2004 ?? ?Print Version ?Bookmark and Share

Keywords:hitachi? telecommunication? digital consumer electronics? information electronics?

Japan's Hitachi Ltd has announced a new business strategy for China aimed at achieving a high double-digit annual growth rates heading into 2006.

The strategy focuses on nine systems businesses in the Chinese market: power and industrial equipment; building; transportation; information and telecommunication; medical; consumer electronics; construction and resource development; automotive systems and materials; and components and materials for information electronics and digital consumer electronics.

Hitachi plans to bolster R&D, improve products and other actions designed to carve out a larger share of the China market.

Hitachi is projecting China revenue of $7 billion by fiscal 2006, ending March 31, 2007, up from $4.5 billion in fiscal 2003. The company plans to invest $1 billion in China annually, close to current levels, but expects to maximize investment by improving utilization of existing management and production resources.

In consumer electronics, Hitachi said it would launch new products for the China market, including plasma TVs and liquid crystal display (LCD) projectors, with the goal of becoming one of the top five consumer electronics companies in the country.

Hitachi also expects to strengthen development of electronic components and materials to serve China, including disk drives, semiconductors, and LCD panels, largely through existing joint ventures.

To broaden its understanding of Chinese society, Hitachi said it would promote local staff to management positions in line with a human resources development strategy for Hitachi (China) Ltd. The company also plans to turn its China R&D center into an independent company and expand hiring to build a team of 1,000 researchers.

- Spencer Chin

EE Times

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