Officials announced recently that from next month Korean-based Navis Co. will begin annually supplying Shenzhen Hansheng Electronic Stock Co. with 100,000 automobile navigation systems, equipped with the fastest route guidance and map scroll functions among all Korean-made products, while also supporting entertainment options like audio CD and MP3 playback.
When the system is connected to a cellular phone, users are also able to access the Internet and their e-mail. Shenzhen Hansheng Electronic is expected to begin marketing value-added products combining Navis' navigation system with other audio-video products to the Chinese automobile industry by the end of the year. Shenzhen Careland Info-Tech Co., a Chinese geographical information system maker, will supply the digital maps for the navigation functions.
For Navis, this deal is of great importance given the growth potential of the Chinese car industry. It is estimated that China will have as many as 5 million cars by 2005 while the demand for automotive electronic goods – such as AV components, navigation systems and DVD players – is expected to surge ahead of the 2008 Beijing Olympics.