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Siemens Reports Fast Mobile Communications Development in China
Information and telecommunications related business have become the dominating source of income for Siemens Limited China, according to a company source.
Siemens now has over 500 million Euro of investment in China, with the sales volume reaching 2.4 billion Euro.
"We have achieved really fast growth since 1993 when our first joint venture was set up in Shanghai," the source said.
According to a recent survey of 101 major Chinese cities, Siemens is now the third largest mobile phone provider in the Chinese market.
The source attributed Siemens's fast development in China largely to its localization strategy. So far, Siemens has set up 50 joint ventures and 27 branch offices in China.
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