A "good idea" or has it ever been a sensible method ought to be the question!
I started doing this more than 10 years ago however with a specific idea in mind and I still continue to do this BUT let me briefly explain why and how.
Why? Simply because my worldwide industry is so large that one site would be a nightmare to control but also because most international buyers want to "feel" they are dealng direct with "The Source" in that specific country!
Trust me about this, our direct e-mail enquires to .cn/de/es/in/it/tr/etc rather than .com more than qualifies this.
How? For example I use example.com as the core site with good quality generic information etc and links leading away from that site may be example.cn/de/es/in/it/tr/etc to provide more in-depth technical information plus DIRECT contact information.
All the satellite sites have direct navigation back to the example.com site and the .mobi site.
Do not expect to create satellite sites with duplicate information, they must be much more authoratative and relevant otherwise they will fail.
Do not not even attempt to "BS" potential experienced buyers, you will get caught out or not last very long in your industry!
A core site with satellites requires very good planning and a clear focus however for those with genuine reasons for doing so it is a much more manageable group of sites.