Adobe to shut China research arm

By AFP

However, Nasdaq-listed Adobe denies the move is a reflection of the Chinese market and says it is part of a broader strategy to place technical teams in fewer locations, according to the statement provided to AFP on Thursday. "The move will not affect Adobe's overall level of investment in R&D (research and development) and is not an indication of financial performance in China or worldwide," the statement said, adding that its Beijing research arm will be shut by the end of 2014.

Adobe, which is based in San Jose, California, in September said net income for the three months ended August 29 had slumped 46 per cent year on year to $US44. 69 million ($A48. 35 million). "We are committed to China as a long-term market, and will continue our sales presence nationally as always," the firm, which makes the Acrobat and Photoshop software, said.

Read more here: Business Spectator

    

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