MediaTek Inc (聯發科), the nation’s top handset chip designer, is expected to meet the mid-point of its fourth-quarter guidance, even with company chief financial executive Yu Mingto’s (喻銘鐸) offer to resign, Credit Suisse said.
Yu became the second high-ranking official from MediaTek to quit his job after handset division head Hsu Ji-chang (徐至強) left last month because of family circumstances. Now, company chairman Tsai Ming-kai (蔡明介) has taken over the position.
“Although it does not signal a major change in direction of the company, it will be a loss because of Yu Mingto’s long nine-year track record at the company and with the investment community,” Credit Suisse’s head of Taiwan research Randy Abrams said in a report on Friday.
MediaTek should be able to track its forecast that revenues would fall by between 15 percent and 20 percent this quarter to between NT$22.5 billion (US$736 million) and NT$24 billion from NT$28.18 billion last quarter, when MediaTek handset chips accounted for 75 percent, Abrams said.
The chipmaker said sales last month plunged 25.16 percent to NT$7.38 billion from NT$9.86 billion in September. Last month’s results were lower than Abrams’ estimate of NT$8.38 billion.
Yu will not leave his post until Jan. 1, MediaTek said in a filing to the Taiwan Stock Exchange on Friday after the board approved Yu’s resignation.
Credit Suisse expected the chipmaker to nominate Yu’s successor over the next four to eight weeks from within the company.
Abrams retained his under--perform on MediaTek, which is facing escalating competition because of high exposure to 2.5G/feature phones, where competition remains fierce and unit growth is moderating as well as because of its slow uptake of 3G and smartphones.
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New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last