Hello Michael,
The following should be music to you ears!
BEIJING, Aug 17 (Reuter) - Prices of personal computers
(PCs) in China have been falling due to fierce competition
between domestic and foreign manufacturers and despite record
sales, the China Daily said on Saturday.
Domestic manufacturers produced more than 512,000 PCs in the
first half, soaring 123.4 percent compared with the same period
last year, it quoted Chen Zhengqing, a senior official of the
Ministry of Electronics Industry, as saying.
The sales rate for domestic manufacturers reached about 90
percent for the first half, Chen said.
State-owned Legend Group, the largest domestic PC supplier
in China, sold 80,600 PCs in the first half, up 126 pecent
compared with the same period last year, it quoted Legend
officials as saying.
However, prices were falling despite soaring demand.
Between March and June, Legend cut retail prices of PCs by
an average 20 percent, state media said earlier.
U.S.-based Compaq (NYSE:CPQ) , the top foreign supplier in China
in 1995, hoped to maintain its leading position this year and
had cut its prices by 10 to 15 percent, the China Daily quoted a
company official as saying.
Companies or Securities discussed in this article:
Symbol
Name
NYSE:CPQ
Compaq Computer Corp
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