E-book sales to explode in China

Chinese hi-tech firm Hanwang Technology said yesterday it expects shipments of its e-book readers to increase 400 percent this year, as demand for the portable reading device grows both domestically and overseas.

Liu Yingjian, president of Hanwang, said the company plans to sell 2 million e-book readers this year as compared with 500,000 in 2009.

"We see great opportunities here," said the 56-year-old executive, noting that the global clamor for e-books will help boost the company's revenue from 670 million yuan last year to nearly 3 billion yuan this year.