China's electronics, IT companies see 16 percent jump in 2003 profits
BEIJING (AFP) Apr 07, 2004
China's electronics and information technologies 2003 pre-tax profits jumped 16 percent over the year earlier to 100 billion (12 billion dollars) on sales revenue of 1.88 trillion yuan, official statistics showed Wednesday.

Output for the sectors in 2003 totalled some 400 billion yuan, up 34 percent, with exports accounting for a 54 percent rise or 142.1 billion dollars worth of electronics and IT products, the Ministry of Information Industry said in its annual report.

It added the industries are expected to see continued steady growth this year, without giving further details.

China's booming mobile phone market saw production for the year rise to 186.44 million handsets last year, up 54.5 percent year-on-year.

2003 Sales of cell phones hit 183.21 million units, up 56.1 percent, while exports rose 39.4 percent to 7.38 billion dollars.

Domestic-brand GSM mobile manufacturers saw their market share increase 15.5 percent in China, chipping away at multinationals such as Nokia, Siemens and Motorola.

Local handset producers such as Ningbo Bird, TCL Corp and Konka Group now control 54.7 percent of the domestic market, according to the ministry.

Meanwhile, television set production soared 30 percent to 65.21 million units as sales rose 23.8 percent to 65 million.

TV exports rose 16.6 pct to 2.56 billion dollars, according to the report.

China's nascent semiconductor sector produced 12.41 billion chips last year, up 37.5 percent, as 12.25 billion units were sold, for a rise of 40.5 percent. While 80 percent of chips produced domestically are actually made by foreign companies, chip exports were valued at 16.57 billion dollars, up 59.7 percent, it said.