Siemens Audiology boosts expansion in China
Updated: 2012-11-30 21:25
By Hu Yuanyuan (chinadaily.com.cn)
Siemens Audiology Group will open 500 exclusive outlets in China in the next three years, with a focus on the country's second- and third-tier cities, the group's CEO Roger Radke said on Friday.
The company has about 1,000 exclusive outlets across the country, covering all the first-tier cities and 90 percent of the second-tier cities. Siemens Audiology is the biggest player in China, with a market share of more than 50 percent.
"Out revenue growth in China will still be a double-digit figure this year and is twice as much as the market average, not being affected by the slowdown of the economy," said Radke.
The company has a factory in Suzhou, Jiangsu province, which accounts for one-fourth of its global capacity.
Industry data showed that there are 27 million hearing-impaired people in China, but only 5 percent of them have a hearing aid, compared with the global average of 20 to 25 percent.