NNG looks to open unit in China

Telco

Hungarian mobile and vehicle navigation systems developer NNG is planning to set up a unit in China this year, CEO Péter Balogh (pictured) told Hungarian economic daily Világgazdaság.

Balogh noted that the firm is also working to open an office in South Korea, noting that the company has 11 offices around the world.

NNG saw revenues rise by 39%, reaching HUF 23.5 bln, last year, while after-tax profit was up by one-third at HUF 6.4 bln.

The company currently employs approximately 700 people and expects to raise headcount to 800-850 this year.

The company recently announced that it would open new offices in Tokyo, Japan and Detroit, United States to serve local clients’ needs promptly, adding that development work would still be done solely in Hungary. 

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