Sony Corp. announced plans to raise its investment by U.S. $200 million in China during this fiscal year as of March 2004 in order to fulfill its sales target of $8 billion by 2008.
"China is Sony's third largest consumer market, next only to the U.S. and Japan, and also the fastest-growing market for us," said Nobuyuki Idei, Sony chairman at a press conference.
The company held its opening ceremony for its Sony Gallery showroom in Shanghai. Attracting more than 100,000 visitors since its trial opening last month, the $1.5 million, 1,000-sq-m facility displays the company's latest products.
Sony also announced it is opening a $1 million software research and development center in Shanghai Pudong Software Park in Zhangjiang Hi-tech Industry Park. The company said the center, with office space of 3,400 sq m and another 8,000 sq m reserved 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 not only on software development, but the 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. (China Daily)
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