Beijing, July 25: China's mobile phone industry has attracted investment of over 10 billion US dollars from 1999 to 2002 and it has the capacity to produce 150 million cell phones per year, an official said today. With a number of foreign mobile phone players active in China, the country currently has 37 mobile phone manufacturers with a combined annual production capacity of 150 million mobiles, an official from the Ministry of Information Industry, Wei Jun said.
The mobile industry realised 250 billion Yuan (over 30 billion USD) in sales in 2002, and produced 130 million mobiles in 2002, of which 63 million were exported.
Multinationals and foreign producers have accelerated investment and set up research and development centers in China, Wei said. Seventeen foreign mobile manufactures invested approximately 1.9 billion USD in China in 1998, producing eight million cellphones, while 25 foreign producers invested over four billion USD in 2002, making 100 million mobiles.
Development of mobile phone industry has boosted related industries making integrated circuits, batteries and other key parts.
China surpassed the United States in 2001 to become the world's biggest mobile-telecom market. Bureau Report