Boston Consulting Group Selected SIM Technology as Top 50 Local Dynamos
April 28th, 2008, Shanghai
SIM Technology Group Limited ("SIM Technology" or the "Group"; SEHK stock code: 2000), a leading mobile handset and wireless communication module developer in China was selected as the Boston Consulting Group (BCG) top 50 “Local Dynamos”.This exclusive list of 50 domestic dynamos best exemplifies unwavering focus and excellent execution of innovative business models to thrive in their domestic markets. In China, beside SIM Technology, there are 14 other local dynamos such as Baidu, China Merchants Bank, Ctrip, Focus Media, Goodbaby, Tencent, Shanda Entertainment, Vanke, etc.
According to BCG report, the six key local dynamos success factors are: (1) Customizing to local needs; (2) Devising innovative business models that overcome local challenges; (3) Leveraging the latest technologies; (4) Benefiting from low-cost labor and overcoming shortages of skilled labor; (5) Scaling up fast; (6) Sustaining long-term hyper growth without imploding. The Chairman of BCG Greater China David Michael, said: "We selected the companies based on their innovative business models and the short list of Chinese best changes the common perception that Chinese companies are only good at high volume low cost manufacturing."
Mr. Simon Wong, President of SIM Technology, said:"We are proud to be selected as the BCG Top 50 ‘Local Dynamos’. We recognized early on the market challenges in front of us and created a new business model to better address our customers’ need.And we have the most dedicated employees to make it happen. We will continue to innovate and maintain our flexibility and speed in this fast growing emerging market.”
