09 June 2004 12:49
EMC CORP. THINKS RUSSIA RIPE FOR INVESTMENT
MOSCOW. June 9 (Interfax) - EMC Corp. of the United States, a major supplier of date storage systems, considers
Russia among the priority markets for investment, the company's vice president Andrei Shishov said at a Wednesday
press conference.
Russia's data storage system market could grow 60%-100% in 2004, he said, according to EMC forecasts. Sales
increased 60% year-on-year in value terms in the first quarter of 2004. World sales revenues increased 35% in the first
quarter to $1.87 billion and the company posted net profits of $140 million.
The corporation's business plan for 2004 envisions doubling the Moscow office staff and investment in marketing
along with allocating extra budget funds for training in domestic and foreign trading, EMC CIS/ Baltics General Manager
Luc Brunet said earlier.
Russia's data storage system market was at least $100 million in 2003, and EMC Corp. increased its share in the
market to 25%, he said. EMC's brethren at the top of the world's data storage system market are Hewlett
Packard, IBM, Sun Microsystems and Hitachi.
[Interfax] |
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