Infineon Technologies AG plans to sell its 30 percent stake in Taiwan's fourth-largest memory-chip maker, ProMos Technologies Inc (
The stake, which has a market value of NT$12.1 billion (US$347 million) based on yesterday's closing price on the Taiwan stock exchange, will be sold according to "market conditions," Infineon spokeswoman Kaye Lim said. A time and price for the sale hasn't been fixed, she said.
Promos shares plunged by their 7 percent daily limit today, while stock in Mosel Vitelic Inc (茂矽), Taiwan's fifth-largest computer-memory chipmaker that owns about two-fifths of ProMos, dropped by 6.5 percent. Mosel has fallen 15 percent since Infineon broke its accord with Mosel Oct. 4 and began building a US$2.2 billion chip plant with Taiwanese rival Nanya Technology Corp (南亞科技).
"The share sale will push ProMos stock down further," said Kelly Ko, who manages NT$1.7 billion in stocks at National Investment Trust Co (
Infineon said it ended an agreement with Mosel Vitelic to make chips at ProMos because of "repeated breaches of contract."
ProMos said it expects to benefit from ending its relationship with Infineon.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
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