Fujitsu Siemens forgets about market share
Decides to make money instead
Fujitsu-Siemens is to stop trying to grow market share, preferring instead to focus on making some money.
Paul Stodden, CEO of the PC maker - Europe's fourth largest - says it will invest in memories, servers, services and notebooks in order to raise profits, according to the Financial Times.
The company had set itself a E10bn turnover goal for 2004, but will now focus on staying profitable, rather than trying to achieve the turnover target.
Illustrating how small the margin of error is in this business, the group is aiming for annual net profit margin of 0.5 to 1 per cent until 2004.
Stodden expects annual turnover at fiscal year-end (March 2002) to be 5.9 billion Euros, with a profit before tax of 30 million Euros, or about 0.5 per cent. ®