MILAN, Sep 26 (Class Editori) — Unexpected and sudden pro-China turn by the US tech giant Microsoft. The company founded by Bill Gates and Paul Allen, who long ago left all operational positions to managers, has announced that it will increase hiring in its Chinese subsidiary by 1,000 people to 10,000 units as it prepares to celebrate its 30th anniversary in the Chinese market.
The Group led by Indian Executive Chairman and CEO Satya Nadella, whose shares are among NASDAQ’s blue chips, announced that it will expand over the next three years the Suzhou, Shanghai and Beijing campuses which represent the pillars of the company’s business in China alongside the 13 sales offices in as many Chinese cities. According to a report by Microsoft itself, about 80% of its employees in China works in R&D.
The announcement surprised the financial community because a year ago LinkedIn, the Group's networking platform, decided to leave the Chinese market where it had about 50 million contacts, justifying the move with growing regulatory difficulties in that market. At the time Nadella had made statements that seemed to prelude a retreat by the entire Group. Today it appears that the mood has changed and, perhaps, it is no coincidence that the announcement comes just days before the long-awaited National Congress of the Chinese Communist Party.
The Redmond-based company closed its last financial year on June 30 approaching 200 billion dollars in sales (198.2), growing by 18% from the previous year with an operating margin of 83,3 billion dollars (+19%) and net income of 72 billion dollars. Today its capitalization is 1.775 trillion dollars.
(Source:Class Editori)
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