Royal Philips Electronics NV, Europe’s biggest maker of consumer electronics, will book a one-time gain of about 260 million euros (US$387 million) this quarter from selling Taiwan Semiconductor Manufacturing Corp (TSMC, 台積電) shares.
INVESTORS
Philips sold about 383 million common shares in Hsinchu-based TSMC for about 455 million euros to unidentified long-term financial investors, the company said in an e-mailed statement yesterday.
Amsterdam-based Philips said it no longer holds shares in TSMC after the sale.
Chief executive officer Gerard Kleisterlee sold most of Philips’ semiconductor unit and all shares in TSMC to focus on the lighting, appliances and healthcare businesses, which have more stable earnings.
Philips received more than 12 billion euros from asset sales since 2005. In the same period the company spent more than 10 billion euros buying medical and lighting companies.
FALL
Philips fell 0.1 percent to 22.94 euros as of 9:43am in Amsterdam trading. Before yesterday, the stock had lost 22 percent this year.
Block trades for TSMC stock were made at NT$57.20 a share yesterday, according to Taiwan Stock Exchange data.
This is 6.5 percent less than the closing price in Taipei on Wednesday.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
RSS