Would it be profitable to manufacture and sell my new mining hardware? I am bit new with bitcoin. I run a electronics/software company in China and Australia. I would like to create new bitcoin mining hardware. The specs are as follows:

The miner is PCI-E installed, runs in a normal PC case or rack sized server around 200w, latest 28nm chip, around 200GHash/s, selling $99 (USD).

I will buy the chip from existing supplier. The design and manufacturing will be done myself.

Given I have a hardware team that have done many ARM Soc applications, and a reasonable experienced software people with Linux and software.  

My question is it worthwhile the effort to do it? Is it profitable and what if any are the perceptive pitfalls?
Depends on whether you can bring something to market that's better than what's already out there. I'm not sure how quickly you can set up something like that, but 200GH/s for $99 right now would probably sell decently. 12 months from now, probably not so much.

This is really an economics question you have to answer, and we'd need a lot more information about your costs and market in order to assess the opportunity properly.