Word: hi-tech
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...These days Chinese PDA makers are hungrily pursuing customers like Gao, who represent long-term salvation from a price war in the mainland's fledgling but fast-growing PDA market. There are as many as 100 rivals in this slugfest, ranging from market leaders Hi-Tech Wealth, Meijin and Legend Computers, to manufacturers better known for selling refrigerators. Their tactics are predatory. In brutal marketing campaigns with names like Plan A (inspired by a popular Jackie Chan action flick), they have cut prices by a gut-wrenching 40%. "I'm the worst one when it comes to challenging...
...world for handheld computers, according to market research outfit IDC. Last year, close to 1.5 million PDAs were sold, a number expected to double in 2001. Add in cheap but popular electronic organizers, and the number swells to around 4 million. The dominant maker, says IDC, is Hi-Tech Wealth, which has a 40% share. "It's a very significant market by any measure," says Dane Anderson, IDC's chief of regional computer research. "But so far, the local players benefit most...
...interests in property and light manufacturing. Sher struggled for years to build a market for PDAs. Even today, manufacturers complain that their main competition in China is the Filofax. "We started from zero. A complete nothing," Sher says. Today the employer of 900, he likes to needle rivals, notably Hi-Tech Wealth president Zhang Zhengyu, a software engineer who got his start distri-buting Sher's products. "Tell Mr. Zhang: 'Please, work hard to improve your technical know-how. You are still very inexperienced,'" Sher jibes. "'If you don't improve, your company will have a very short life...
...other hand, the World Fund, with about 70 members, manages about $14,000, mostly in hi-tech stocks like Sun Microsystems and 3COM. Fund managers look to gain in the short-term by finding undervalued high-growth companies. Yield thus far for 1998 is 13 percent or roughly...
...That's not the kind of results you can take to your boss and ask for more money," says TIME's Pentagon correspondent Mark Thompson. "It wasn't even hi-tech failures, but rudimentary stuff -- welding, guidance systems, booster rockets. You want failures you can learn from...