Friday, October 5, 2012

U.S. tech firms to increase exports to developing nations

Most U.S. high-tech firms plan to ship a higher number of cell phones, tablets and other electronics over the next two years to the growing middle-class in many developing nations, due to free trade pacts and rising labor costs overseas, according to a survey conducted for shipping giant United Parcel Service by IDC Manufacturing Insights.

Approximately 85 percent of the nation's high-tech executives who participated in the poll said the Obama administration was somewhat or very likely to meet its objective of doubling exports by 2015. This is up from only 40 percent confidence two years ago.

"It's really being driven by this emerging middle class that have more disposable income and a heavy appetite for technology products like cell phones, tablets and laptops," Ken Rankin, high-tech marketing director at UPS, said to Reuters.

For more of the Reuters story: reuters.com

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