Philips boosts China R&D staff

Dutch Electronics giant Philips announced plans to nearly double its research and development staffing in China. The company currently employs about 700 staff at 15 R&D facilities across China. Almost all of the new jobs will be in and around Shanghai, with the bulk of investment focusing on growth in the company's production of mobile display screens. No financial figures were given for the latest expansion. To date Philips has invested about US$3.4bn in China and last year it saw revenues of about US$7bn. The company has said it aims to double overall China revenue to US$15.4bn by 2007, roughly half its global sales.