Gulf market entry enhances Fujitsu Siemens Computers’ performance
Fujitsu Siemens Computers (FSC) announced recently that the company has ended the 2001/2002 financial year on March 31, 2002 in profit. The European Information Technology (IT) manufacturer has grown its profit in 2001/2002 by more than €80 million ($70.44 million) compared to the previous financial year.
This has resulted in FSC ending its second complete financial year since the merger, with a profit of €10 million. FSC has been able to defy prevailing market trends by turning in a profit in the first half of the previous fiscal year, with a favorable earnings swing exceeding €110 million compared to the same period last year, according to a company press release.
FSC’s entry into the IT market in the Arabian Gulf has also had a significant impact on its performance. Since it first opened its regional office in the United Arab Emirates (UAE), FSC has made inroads into the fast growing IT market in the Gulf rising to be among the top five IT vendors in the UAE. FSC’s performance in the area of mobile computers is particularly noteworthy.
Fujitsu Siemens Computers was founded in October 1999 as a joint venture of Fujitsu Ltd and Siemens AG and operates in all key markets across Europe, the Middle East and Africa. Based in Maarssen, Netherlands, FSC’s products are assembled and built to order at the manufacturing facilities situated in Augsburg, Paderborn and Sömmerda in Germany. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
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