iPhone 5 launch dates issued
Apple announced that the latest version of the iPhone will be released in South Korea on Friday and in more than 50 other countries including Taiwan, Russia and Brazil later in the month.
The news indicated that the California-based company was on track to make the iPhone 5 available in 100 countries by the end of the year, despite being hard pressed to meet demand where the handsets are being sold. Apple last week unveiled plans to sell the iPad Mini and fourth-generation iPad in China starting on Friday, and the iPhone 5 will be available on Dec. 14, Apple said in a statement.
Miner reports budget drop
Brazil’s mining giant Vale on Monday announced a 24 percent drop in its investment budget for next year to US$16.3 billion, anticipating “a moderate expansion” of global demand in the sector. The world’s top iron ore producer said its board of directors approved capital expenditures of US$10.1 billion for project execution, US$5.1 billion for existing operations and US$1.1 billion for research and development. Capital and research and development expenditures for this year were estimated to reach US$17.5 billion, down from the US$18 billion for last year. In October, Vale reported a third-quarter net profit of US$1.66 billion, down from US$4.935 billion during the same period last year and US$2.66 billion in the second quarter of last year.
Agency to set up airline
One of Japan’s biggest travel agencies said yesterday it would set up a charter airline based in Bangkok as demand for air travel in Asia soars. H.I.S. said its Asia Pacific Airlines would begin operating flights in the summer, connecting Bangkok to locations across East Asia, including China, Japan and South Korea, a company official said. The carrier would initially operate two 767 mid-sized planes before expanding its fleet to 10 aircraft within several years, it said.
Adobe releases free toolkit
Adobe late on Monday released a free toolkit to make it easier for developers to create Flash-based games to ride the growing wave of playing on smartphones, tablets, and in Internet browsers. Game Developers Tools made available were the first tied to Adobe’s “Creative Cloud,” providing computing muscle from Adobe’s online datacenters. Flash-based games can be found among the top titles at social network Facebook as well as those popular for play using personal computer browsers.
Firm slams Reuters reports
Japan’s Universal Entertainment Corp yesterday accused Reuters of “misrecognition of the facts” in publishing stories about millions of dollars in payments from Universal to an ex-consultant to the Philippine gaming authority. The stories, published on Nov. 16 and on Friday last week, detailed a series of payments made to Rodolfo Soriano, a close associate of the former head of the gaming authority, between January and May of 2010 when Universal was lobbying for concessions for a casino resort on Manila Bay. Soriano is now at the center of a Philippine bribery investigation. The story published on Friday said Universal channeled at least US$30 million to companies controlled by Soriano, citing company records and people with knowledge of the transactions and related investigations.
‘BIG LOSS’: This year might see the last generation of Huawei’s Kirin chips, as their production would stop next month because they are made using US technology Chinese tech giant Huawei Technologies Co (華為) is running out of processor chips to make smartphones due to US sanctions and would be forced to stop production of its own most advanced chips, a company executive has said, in a sign of growing damage to Huawei’s business from US pressure. Huawei, one of the biggest producers of smartphones and network equipment, is at the center of US-Chinese tension over technology and security. Washington last year cut off Huawei’s access to US components and technology, and those penalties were tightened in May, when the White House barred vendors worldwide from using US
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB
CORPORATE SCANDAL: Cathay Life has invested NT$13.3 billion in Bank Mayapada since 2015, but the latest loss of NT$8.8 billion has completely written off its investment Cathay Life Insurance Co (國泰人壽) yesterday said it would recognize an investment loss of NT$8.8 billion (US$298.1 million) in Indonesia’s Bank Mayapada Internasional Tbk PT due to concerns about the lender’s operations amid a corporate scandal. The company said it would revise its earnings result for June, from a net profit of NT$6.52 billion to a net loss of NT$520 million, its first monthly loss over the past 17 months. After booking an investment loss of NT$5.2 billion in Bank Mayapada earlier this year, Cathay Life has so far recognized total investment losses of NT$14 billion in the lender, executive vice president
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported that revenue last month expanded 25 percent annually, but fell 12.8 percent month-on-month to NT$105.96 billion (US$3.59 billion). In the first seven months of this year, the chipmaker’s revenue surged 33.6 percent to NT$727.26 billion, compared with NT$544.46 billion a year earlier. TSMC has said it aims to grow its revenue by more than 20 percent this year. The company has since May 15 stopped taking new orders from Huawei Technologies Co (華為), its second-biggest customer after Apple Inc, due to the US’ restrictions on exports containing US technologies. TSMC has no plans to