INTERVIEW-UPDATE 1-NEC Elec China sees 10 pct-plus sales growth

Fri Jul 18, 2008 10:42am BST
 
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* Expects sales to grow by at least 10 pct/yr

* Plans to increase R&D staff to 400 by 2010 from 300

* Opening new branch in China's coastal region

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By Sophie Taylor

SHANGHAI, July 18 (Reuters) - Japanese microchip maker NEC Electronics Corp's (6723.T) China unit expects its sales to grow by at least 10 percent annually this business year and next, on strong demand for chips for automotive and power management products, a senior executive said on Friday.

NEC Electronics China is also looking to ramp up its presence in the world's fourth-largest economy and will increase its research and development staff by around one-third to 400 by 2010, said Zheng Li, vice president of sales, marketing and human resources at NEC Electronics China.

"We expect double-digit growth for our microcontroller and power management device businesses," Zheng said.   Continued...

 

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