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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3362)	7/14/2004 1:27:30 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Philips to retreat mobile produce base from China www.chinaview.cn 2004-07-14 09:36:22 BEIJING, July 14 (Xinhuanet) -- Philips Electronics plans to haul off its produce base of cell phones from China because of decreasing profits in the country in recent years. Shenzhen Sang Fei consumer communications, which is the sole production base of Philips's cell phones in the world, says Philips's output was influenced by the system of refunding taxes on exported goods and other economical policies launched in China last year, reported Wednesday's CRI online. Officials of Sang Fei say that their contract with Philips will end next summer. It is not likely to sign further contracts at that time. By then, Asia's orders of Philips will still be handled by them, while orders from Europe will be produced by other companies. The company has begun to cut production of Philips' mobile phones and plans to reduce it to 70 to 80 percent of annual production by the end of this year. news.xinhuanet.com