A new technology joint venture was planted in St.Petersburg last week. Foxconn Technology Group teamed up with Hewlett-Packard to build the computer factory, which will be producing personal computers under HP brand. Foxconn Technology is the provider of joint-design, joint-development, manufacturing, assembly and after-sales services to global Computer, Communication and Consumer-electronics leaders.
The spiraling demand for high-tech products has been a trend in the Russian ICT market for the last few years and two technology manufacturers are eager to capitalize on this demand.
“This place will become a huge techno-park, producing high-tech electronics and computers to satisfy growing industrial, scientific, and educational needs throughout Russia…”Valentina Matviyenko, St. Petersburg Governor
The venture to build a $50 million technology plant on the outskirts of St. Petersburg is supported by the government of St.Petersburg. The city authorities which has proved its interest towards making information technology an inherent part of the city life. Last year their efforts brought two MNCs' technology centers to St.Petersburg - Hewlett-Packard Labs and EMC.
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