BEIJING-Siemens AG said it is raising its stakes in the China mobile market by investing as much as $1.2 billion more in the market during the next three to five years, according to press reports.
The investments will cover both networks and mobile phones, according to the reports. The company intends to double its sales from $4.8 billion last year to $9.6 billion in the next few years, according to Heinrich von Pierer, the company’s chief executive officer.
“We see good chances of doubling today’s sales volume in the next three to five years,” said von Pierer. “We would thus grow faster than the Chinese market, and we would increase China’s share of our worldwide business.”
The company has invested in a variety of technologies and alliances in the market, and part of the investment will go to a new headquarters here. Siemens said it will open more regional offices.
It will also enhance its research and development activity, including China’s homegrown third-generation wireless technology, TD-SCDMA.
