Freescale Semiconductor Inc, a US maker of chips for cars and mobile phones, plans to increase hiring in Hong Kong and China to accelerate product development.
"We want to expand in markets that offer growth," Joe Yiu (姚天從), Asia chairman of the Austin, Texas-based company, said yesterday in Hong Kong.
The company has more than 1,000 engineers in Asia excluding Japan, out of a total workforce of more than 9,000, Yiu said.
Freescale said it is increasing its development of chips used to process cellphone signals to meet demand from customers including Research In Motion Ltd and Motorola Inc.
Worldwide sales of mobile-phones are expected to climb 14 percent to 1.13 billion units this year, research firm Gartner Inc said.
The US chipmaker is the third-largest supplier of semiconductors used in mobile phones and employs more than 400 engineers in China and Hong Kong, Yiu said.
The company has more than 600 engineers in India, where in March it opened a design center in Noida, near New Delhi, to add to a facility in the southern city of Bangalore, he said.
Freescale, which also supplies chips used in phone and networking equipment to customers including Huawei Technologies Co (華為科技) and ZTE Corp (中興通訊), has design centers in Beijing, Shanghai, Tianjin, Chengdu and Suzhou, in addition to Hong Kong.
Freescale moved its Hong Kong office to Phase 2 of Hong Kong Science Park, a government-funded office complex. Phase 2, which cost HK$3.8 billion (US$488 million) to build, opened yesterday.
Companies including Royal Philips Electronics NV and Solomon Systech International Holdings Ltd also lease offices at the complex.
Freescale increased sales of mobile-phone chips 11 percent to US$1.35 billion last year, behind Texas Instruments Inc and Qualcomm Inc, Gartner said. Freescale also makes chips used in cars for customers including General Motors Corp.
Freescale, which was bought by a group of private-equity companies led by Blackstone Group LP in December, said that sales in the three months to June 29 fell 14 percent from a year earlier to US$1.38 billion.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
‘ONE-STOCK SHOW’: Turnover hit an all-time high as TSMC continued to determine the local market’s direction and surpassed Visa in market capitalization The TAIEX early yesterday hit an all-time intraday high on the back of soaring Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares, before tumbling back to the previous day’s close as the contract chipmaker could not single-handedly prop up the index. The TAIEX rose more than 400 points in the first 20 minutes of trading to hit a record 13,031.7 points, but later pared its gains to close down 0.01 percent at 12,586.73. Turnover was NT$343.252 billion (US$11.63 billion), the highest in the Taiwan Stock Exchange’s history. TSMC continued to dictate the market’s direction, as its early surge by the daily
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion