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BEIJING-Friday, June 23, 2006
EMC Corporation (NYSE: EMC), the world leader in information management and storage, today unveiled plans to open a state-of-the-art software development center in Shanghai. EMC also announced plans to invest $500 million in China over the next five years, underscoring EMC's deepened commitment to the rapidly growing China marketplace. Expected to open next month, the center is part of EMC's planned investment and will be the company's first China-based research and development facility.
Joe Tucci, EMC's Chairman, President and CEO, said, "We at EMC are deeply committed to China for the long term. We plan to more than double our current investment in China so that we can more fully tap into the country's tremendous pool of talented engineers, contribute to its growing software industry, and accelerate the development of software-based solutions used by customers around the globe."
The new center is part of EMC's global research and development investment, which is expected to be more than $1.2 billion in 2006. In China, EMC has established a comprehensive China Solutions Center network, deepened its relationships with key Chinese customers, created partnerships with software and systems integration solution providers, opened training centers to certify networked storage specialists, and made significant contributions to the academic community in China.
Last year, EMC's overall software revenues ranked the company seventh among the world's largest enterprise software providers. EMC is the world's #1 provider of storage and content management software.
According to IDC, EMC is the #1 storage software vendor in People's Republic of China (PRC), capturing 39% of the country's storage software revenue in 2005 [a].
EMC's Shanghai-based development center will provide support and ongoing development across the company's broad portfolio of market-leading software solutions, and will play a role in accelerating the localization of EMC products for China and other Asian markets. The center is expected to employ approximately 100 developers by year-end and grow to 500 by the end of 2008. It is part of EMC's network of state-of-the-art development facilities in the U.S., Belgium, France, India, and Israel.
Dr. Chenggong Charles Fan, EMC's Vice President and General Manager of the company's China-based development, will lead the center's development activities. A native of China, Dr. Fan reports to Mark Lewis, EMC's Executive Vice President and Chief Development Officer. Dr. Fan was Co-founder and Chief Technology Officer of Rainfinity, a leader in file virtualization, which was acquired by EMC in August 2005. Dr. Fan holds a doctorate in Electrical Engineering from the California Institute of Technology.
EMC in China
EMC entered the Chinese market in 1996 and today operates major sales offices in Beijing, Shanghai, Guangzhou and Chengdu. EMC's current investments in China include the EMC China Solution Center network, with five centers in Beijing, Shanghai, Guangzhou, Hong Kong and Taipei that support and demonstrate EMC's technologies for customers and partners; the "EMC Classroom" at Tsinghua University; the EMC-Fudan Network Storage Training Center in Shanghai; a strong development partnership with Neusoft; and 35 service centers across the country.
In addition to leading the storage software market, sales of EMC storage systems also led China's External Disk Storage market last year. 2005 revenue from EMC external disk storage systems represented 21.8% of the total External Disk Storage market, according to IDC [b].
About EMC
EMC Corporation (NYSE: EMC) is the world leader in products, services and solutions for information management and storage that help organizations extract the maximum value from their information, at the lowest total cost, across every point in the information lifecycle. Information about EMC's products and services can be found at www.EMC.com.
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[a] Source: IDC Asia/Pacific Semiannual Storage Software Tracker, 2H 2005
[b] Source: IDC Asia/Pacific Quarterly Disk Storage Systems Tracker, Q1 2006
This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) risks associated with acquisitions and investments, including the challenges and costs of integration, restructuring and achieving anticipated synergies; (iv) competitive factors, including but not limited to pricing pressures and new product introductions; (v) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (vi) component and product quality and availability; (vii) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; (viii) insufficient, excess or obsolete inventory; (ix) war or acts of terrorism; (x) the ability to attract and retain highly qualified employees; (xi) fluctuating currency exchange rates; and (xii) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission. EMC disclaims any obligation to update any such forward-looking statements after the date of this release.
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