Legend forced to reduce workforce
1 January 2002
Legend, China's leading domestic computer manufacturer, reported a profit for the second quarter of 2001 that was 25 per cent higher than in the same period of 2000, Bloomberg said. The company accounts for more than a third of all personal computers sold in China and its market share is more than twice that of its nearest rival, Founder. However, the firm is facing sharp competition from Dell Computer of the US, which is currently the fourth largest computer firm in China after departing from its global strategy of supplying customised PCs to sell a basic no-frills machine in China.
Legend is also planning to invest
Yn2bn in a Beijing property development to house technology companies, Hong Kong Economic Journal said. However, it has decided to cut its staff by 10 per cent in the current fiscal year because of the weakening information technology market.