Buynow, Clevo's IT retail chain subsidiary in the China market, will expand its retail network from 20 stores currently to 50 stores in 2015 and expects the annual revenues to increase from NT$3.5 billion (US$107 million) in 2009 to NT$5 billion in 2010 and to NT$15 billion in 2015, according to company chairman Ken Hsu.
Hsu told Digitimes that China's IT market is growing about 25% annually, higher than the country's GDP growth of 8%, because of the low penetration of IT products in China. He expects the strong growth for China's IT market will persist in the next few years.
With China's real estate prices continuing rising, Tsai noted that the company is seeing slower returns from its new stores. He said the company still has some land in China, and is waiting for the realty prices to fall back to reasonable levels before making further land purchases in China.
As for Clevo's notebook business, Tsai pointed out that the company will start pushing notebooks with high added-value such as gaming models in the future, and it expects its notebook shipments will reach two million units in 2010, up from 1.7 million in 2009.
Clevo and Buynow chairman Ken Hsu (left); and Simon Tsai (right), president of both companies
Photo: Terry Ku, Digitimes, March 2010
Article translated by Joseph Tsai
