IT supplier to invest US$500m
(China Daily)
Updated: 2006-06-24 08:57 Cashing in on China's huge talent pool is expected to help EMC boost its
sales in China's dynamic IT market.
According to data tracking firm IDC, EMC accounted for 39 per cent of China's
storage software market in terms of revenue.
Tucci said EMC's annual sales in China last year had grown by 45 times
compared to 10 years ago, although he declined to give details.
Yet, so far, China is believed to have contributed only a small portion to
EMC's global revenue.
The Asia-Pacific region last year contributed 11 per cent to EMC's global
revenue of US$9.7 billion.
Tucci said China's IT market is growing "substantially faster" than other
parts of the world, which is generating increasing demands for information
storage and management.
According to Beijing-based research house Analysys International, the storage
equipment market in China in the fourth quarter of last year was worth 1.99
billion yuan (US$249 million), increasing 16.4 per cent year-on-year.
Demand for storage solutions is forecast to surge in the coming years as
Chinese telecom operators build next generation networks.
The country's financial sector will also be opened wider next year, Analysys
said.
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