Yageo Corp (
Yageo may almost triple spending on factories and equipment to US$100 million, of which it expects to spend US$70 million in China, in response to rising handset demand, said company spokeswoman Julia Wang (
The company is following its customers, which are shifting manufacturing of mobile phones and notebook computers to China to take advantage of lower labor costs.
Taipei-based Yageo has been quicker than Japanese rivals such as Murata Manufacturing Co to expand in the country.
"The company will be cementing its leadership position in China," said Nicholas Teo, of ING Securities Ltd in Taipei. "[Yageo] has been doing more restructuring than its rivals in Japan."
China accounted for 32 percent of Yageo's sales in the third quarter, against 33 percent for Taiwan. The company expects China sales to surpass domestic sales next year.
Yageo shares rose NT$1.20, or by the 7 percent daily limit, to NT$18.40 in Taipei. The shares have doubled since Jan. 1, compared with a 35 percent gain for the TAIEX.
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