| Matsushita Electric Industrial Co Ltd announced on
Wednesday it has set up a research and development centre in
Beijing to help it meet future demand for mobile phones and
digital TVs in China's burgeoning market.
The Japanese electronics giant, known globally for its
Panasonic brand, plans to invest about US$6 million on the first
phase and US$400 million over five years in the new firm.
"The move reflects Matsushita Electric's view that the
wireless phone industry in China is growing rapidly not just as a
market but also as a manufacturing base," said Morishita
Yoichi, president of the Matsushita.
He also predicted a large market for digital TVs and
net-related products will emerge in China. The new company,
Matsushita Research & Development (China) Co Ltd, will start
operations in May.
The new unit, which is located in Beijing-based Zhongguancun
High-Tech Park, will develop mobile phones using the global system
for mobile communication (GSM) standard and digital TVs.
The facility will initially employ 100 researchers and
engineers, but plans to expand the workforce to 1,500 by 2005, the
company said.
"As the mobile communication industry heads into the world
of third-generation technologies, our goal is to secure our
position as a leading manufacturer in the global
marketplace," said Matsushita Communication President Takashi
Kawada.
(www.chinadaily.com.cn)
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