Nokia plans more cutbacks
The world’s largest mobile phone maker Nokia said yesterday it planned to cut 3,500 jobs in Romania, Germany and the US by the end of next year, according to a statement from the company. These cuts are in addition to the 4,000 job cuts and 3,000 outsourced jobs Nokia announced in April as part of a massive restructuring effort. The firm also hinted at more job cuts next year, saying that it would review the long-term role of its factories in Salo, Finland, Komarom, Hungary, and Reynosa, Mexico, adding that it expected to have more details “into the possible headcount impacts” at these sites next year.
AMD cuts Q3 forecasts
Advanced Micro Devices Inc (AMD), the second-largest maker of processors for personal computers, reduced its forecasts for third-quarter sales and profitability, citing manufacturing glitches. Sales in the period ending tomorrow will increase 4 percent to 6 percent from the previous period, the California-based company said in a statement yesterday. That compares with an earlier prediction for growth of about 10 percent. Globalfoundries Inc, a spinoff of AMD’s manufacturing operations that now supplies the company with chips, is facing production problems at its plant in Dresden, Germany. That has resulted in a shortfall in the company’s s newest processors, the company said.
HP beefs up defenses
A published report says Hewlett-Packard (HP) is beefing up its defenses in a bid to fend off activist investors who, with enough shares, could demand drastic changes at the company. The Wall Street Journal reported on Wednesday that HP has hired Goldman Sachs to help formulate a strategy to guard against shareholder activism. With the company’s market value down about US$60 billion since former chief executive Mark Hurd resigned under last year, the company is under intense pressure to engineer a turnaround. Last week, HP fired Hurd’s replacement, Leo Apotheker and replaced him with former eBay Inc chief executive Meg Whitman.
Flickr launches new service
Yahoo is touching up its Flickr photograph-sharing service with a new way for friends located in different locations to simultaneously browse through pictures. The “Photo Session” feature introduced on Wednesday is designed to replicate the experience of leafing through an old-fashioned photograph album, even if the people sharing the experience are located thousands of kilometers apart. Any of Flickr’s nearly 170 million users can activate a session by obtaining a special link that can be sent to other invitees. A photography session can be done on iPhones, iPads and personal computers using the Safari, Firefox and Chrome browsers.
Fidelity defends manager
US investment fund giant Fidelity Management yesterday defended a Hong Kong portfolio manager charged with insider trading, saying he “did not violate any laws or regulations.” The comments came after documents revealed on Wednesday that the city’s financial secretary has accused George Stairs of improperly trading shares in Chinese food giant Chaoda Modern Agriculture (超大現代農業). The Chinese company’s chairman Kwok Ho (郭浩) and chief financial officer Andy Chan (陳志寶) were also charged in the case for allegedly supplying Stairs with inside information before a share offering in June 2009.
NOTABLE SHIFT: By 2030, 50% of all laptops would be assembled in Southeast Asia, while Taiwan would still mostly focus on research and development, a report said Global laptop and desktop computer supply chains are expected to shift significantly away from China in the next 10 years, a Market Intelligence & Consulting Institute (MIC, 產業情報研究所) report said. By 2030, only 40 percent of global laptop production would remain in China, said the report, which was released on Thursday. “The reshuffling of the global supply chain will be one of the most important trends in the next 10 years,” the institute said in the report. “In the long run, key component makers will follow laptop assemblers in moving out of China.” The Taipei-based institute predicted most key component makers
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
Merck Group Taiwan yesterday said that it plans to invest substantially on expanding its fab in Kaohsiung’s Lujhu District (路竹) to better serve its local customers, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). The company said it plans to expand its production space by 50 percent in the next five years and its workforce by about 40 percent, Merck Group Taiwan managing director Dick Hsieh (謝志宏) told a media briefing in Taipei. Hsieh declined to disclose investment details, but said that the latest investment would exceed the total amount Merck has invested in Taiwan over the past few years. Those investments would be