14 DAY TRIAL // Motorola will fully own from now on a finance company in China. Its name will be Motorola (China) Finance Limited (MCFL) and will provide financial services for Motorola's subsidiaries, joint ventures and affiliates in this country.
Just how did Motorola end up having its own finance company in China is rather unexplainable. Still, the handset producer hopes to promote its business development in China by setting up this finance company. The handset market has flourished here over the past years, but this happened mostly on account of the large number of copies made after highly successful such devices.
There are 20 years since Motorola has brought its business in China, which makes it just about time for it to strengthen its position here. Moreover, there are also 15 years since Motorola started investing in Tianjin. This facility has grown into one of the company's largest manufacturing bases worldwide and is playing an important role in the company's global supply chain strategy. After all, a huge percentage of handsets is "made in China", with low costs and big profits.
Motorola plans to continue offering its support to the development of Binhai New Area and Tianjin city as a whole. Moreover, it looks to deliver results profitable both for Tianjin and China as well. As a result, Motorola should manage to strengthen its position on the market.
"MCFL will provide more diversified and flexible financial services to support Motorola's business growth in China's highly competitive market. Motorola values its strategic partnership with Tianjin city and the incorporation of MCFL once again proves the company's firm commitment to Tianjin", said Tom Meredith, chief financial officer, at Motorola.
Motorola (China) Finance Limited (MCFL) has a total registered capital of RMB100 million and will provide financial services for Motorola's subsidiaries, joint ventures and affiliates in China.