If everything goes as per China’s Ministry of Industry and Information Technology’s (MIIT) plan, some of the major electronics companies could be based in China by 2015.
While India is working towards making the Indian electronics industry self dependent and lucrative enough, China has bigger plans. Reportedly, China’s ministry of Industry and Information Technology is asking technology firms to pursue mergers and acquisitions in order to reach the current sales figure of Lenovo, all this within a couple of years.
If everything goes as per China’s Ministry of Industry and Information Technology’s (MIIT) plan, some of the major electronics companies could be based in China by 2015. According to a Digital Trends report, MIIT recently revealed its goal of having five to eight Chinese companies within the next two years with a total sales figure of 100 billion Yuan or $16.1 billion. As of now, only Huawei and Lenovo can boast sales that meet that target.
MIIT is pushing companies to get into corporate mergers, alliances and acquisitions with known names in the industry to meet this goal. Moreover, it has also been encouraging Chinese companies to actively pursue deals with companies outside the country. This move is part of China’s plan to streamline several major industries, including automobile and shipping, in order to achieve economic growth by squashing overcapacity. MIIT is also encouraging electronics companies to try their hand on IT services while also working on software and hardware in hopes of coming up with innovative products and services, the report further states.
Both Gartner and IDC research firms have mentioned Lenovo as one of the top five PC makers for 2012 in the U.S. market. And MIIT is obviously cashing in on the success of the company to push its prospects further.
