Because the global financial crisis may force more Western companies to outsource their business to China, One of the world’s largest IT outsourcing firms, US software outsourcing company CSC, announced on Oct 28th that it will launch another new centre in the country.
Michael Laphen, chairman and chief executive officer of CSC, said in order to go through the financial crisis, more companies have to outsource their business in pursuing of lower costs, thus creating more opportunities for outsourcing companies.
“Outsourcing will increase in difficult times as the financial crisis pushes companies to become more cost effective,” said Laphen. “We expect further robust growth from China.”
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According to Nestle senior company officials last Friday, in spite of the global economic slow-down and the impact of the recent milk crisis, China will remain one of the fastest-growing markets with the biggest growth potential for Swiss food and beverage giant Nestle.
Patrice Bula, Chairman and CEO of Nestle China said on Friday, “Nestle China’s sales growth was still strong so far this year, partly due to the high standard products provided for China’s market, which were attested with no melamine.” He also added that Nestle China is expected to see double-digit growth in its sales revenue this year. Read more…
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Ericsson AB, the world’s biggest maker of wireless networks, may report its sharpest profit drop in more than there years. Considering the costs it planned to cut 4,000 and lower the demand for phones at the handset companies with Sony Corp.
According to the median estimate of 15 analysts, its net income in the second quarter fell 56 percent to 2.82 billion kronor ($472 million). Read more…
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