Shanghai Haier IC eyes listing in domestic market

Shanghai Haier IC Co, an integrated circuit (IC) unit of Haier Group<600690>, plans to list in the domestic market amid the accelerating domestic IC market growth, said President and CEO Oliver Chang.

"The IC and electronic component imports are huge target markets for us in China,'' said Chang. Home-made IC and electronic component products only accounted for less than 20% market share in the rapidly growing major economy, according to industry statistics.

Shanghai Haier IC, China's leading IC producer invested jointly by Haier Group and several venture capitalists, worked on the design of an MCU (Micro Controller Unit) with noise-immunity and power-efficiency functions, which are widely used in white home appliances.

China's IC market surpassed the U.S. and Japan in 2005 to rank No. 1 globally for the first time. The market size is expected to reach US$152 billion by 2011, analysts said.