GDP growth forecast cut
Barclays PLC has slashed its forecast for Taiwan’s GDP growth for this year, after the country’s first-quarter growth failed to meet the British banking group’s previous estimate. The group on Thursday lowered its projection to 3.6 percent growth from the earlier estimate of 4 percent made in February, after Taiwan’s first-quarter GDP growth of 3.4 percent was lower than its estimate of 3.6 percent. Despite the downgrade, economic growth for the year is still set to be higher than last year, when GDP grew 2.11 percent, Leong Wai Ho (梁偉豪), a senior regional economist with Barclays, said in a research note.
LG aims to boost sales
LG Electronics Inc aims to grab an 8 percent share of Taiwan’s smartphone sales revenue this year, nearly double its share of about 4 percent in March, Jackie Kim, director of mobile business at LG’s Taiwan branch, said on Monday. LG’s smartphone volume is expected to account for 5 percent of Taiwan’s total smartphone sales this year, up from 3.3 percent in March, Kim said. Last year, LG was ranked fifth in Taiwan with only a 3 percent market share, trailing far behind fourth-place Apple Inc, with a 13 percent share, according to International Data Corp (IDC). Samsung Electronics Co held a 28 percent market share in Taiwan last year, followed by HTC with 21 percent and Sony Mobile Communication Ltd with 16 percent, IDC said.