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: Quote, Profile, Research) 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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