We are opening another office in Asia, this time in Beijing, China. It is already our third office in the Far East and definitely not the last one.
One could ask why are we focusing so extensively on the Asian market. The answer is simple – that´s where the market for consumer electronics is the most promising. Not only China is one of the fastest growing technology regions but also a number of our partners are located there. While the majority of the countries are suffering from continuous recession, China is planning to increase its already high R&D expenditure, which last year accounted to 1 trillion Yuan (US$160.8 billion), 2% of the country´s GDP.
Analysts are speculating that technology innovation will most likely shift towards China due to the market opportunities and capital availability. Wanting to attract more investment into China, the government prepared a number of incentives around certain IT areas including preferential policies in taxation and M&A for companies with high R&D spending. Also, it does not look like there will be any shortage in the expertise and know-how. Every year the pool of highly educated graduates in IT and engineering is getting bigger.
The potential of the whole region is constantly on the rise and we are excited to be present on the local market to capture it.