Automotive lighting products producer TYC Brother Industrial Co (堤維西) said it is upbeat about its business outlook this year, given steady progress at its new factory in Chongqing, China, and growing reflex reflector electroform business in that market.
The new factory, owned by TYC’s Chinese subsidiary, Varroc TYC Auto Lamps Co (大茂偉瑞柯), is expected to increase its revenue by about 11 percent this year to 1 billion yuan (US$162.6 million) from last year’s 900 million yuan, TYC chairman Wu Chun-chi (吳俊佶) said earlier this week.
TYC holds a 50 percent stake in Varroc TYC, which swung to the black about three years ago.
The Chongqing factory was established to supply lighting products for Ford Motor Co’s Focus and Mondeo sedans in China, while help save transportation costs for Varroc TYC because of its proximity to Ford’s production sites in the country, Wu said.
NEW RULES FOR TRUCKS
Meanwhile, DBM Reflex of Taiwan Co (迪比恩), in which TYC also owns a 50 percent stake, will start to sell its reflex reflector electroform products in China by the end of this year, after Beijing implements a new rule requiring all trucks to have reflex reflector electroforms on their exterior for safety reasons starting next quarter.
BIG MARKET
Wu said there are about 30 million trucks in China, with 3 million new trucks sold in the market every year.
A truck in China will need to have between 40 pieces and 80 pieces of reflex reflector electroform based on the new rules, Wu said.
DBM Reflex is likely to be the first company in China to have all the required certifications for its product, he said.
TYC manufactures automobile lamps in the industry’s after-market segment and is expanding its presence in the original equipment manufacturing (OEM) segment, with clients including BMW AG and Osram GmbH.
In June, Wu said TYC expected to increase sales in the OEM market to NT$200 million a year within the next three years from the current NT$150 million a year.
From January through last month, TYC reported revenue of NT$10.75 billion (US$359.99 million), up 15.87 percent from NT$9.28 billion the previous year, according to the company’s filing to the Taiwan Stock Exchange.
BUSINESS UPDATE: The iPhone assembler said operations outlook is expected to show quarter-on-quarter and year-on-year growth for the second quarter Hon Hai Precision Industry Co (鴻海精密) yesterday reported strong growth in sales last month, potentially raising expectations for iPhone sales while artificial intelligence (AI)-related business booms. The company, which assembles the majority of Apple Inc’s smartphones, reported a 19.03 percent rise in monthly sales to NT$510.9 billion (US$15.78 billion), from NT$429.22 billion in the same period last year. On a monthly basis, sales rose 14.16 percent, it said. The company in a statement said that last month’s revenue was a record-breaking April performance. Hon Hai, known also as Foxconn Technology Group (富士康科技集團), assembles most iPhones, but the company is diversifying its business to
Apple Inc has been developing a homegrown chip to run artificial intelligence (AI) tools in data centers, although it is unclear if the semiconductor would ever be deployed, the Wall Street Journal reported on Monday. The effort would build on Apple’s previous efforts to make in-house chips, which run in its iPhones, Macs and other devices, according to the Journal, which cited unidentified people familiar with the matter. The server project is code-named ACDC (Apple Chips in Data Center) within the company, aiming to utilize Apple’s expertise in chip design for the company’s server infrastructure, the newspaper said. While this initiative has been
GlobalWafers Co (環球晶圓), the world’s No. 3 silicon wafer supplier, yesterday said that revenue would rise moderately in the second half of this year, driven primarily by robust demand for advanced wafers used in high-bandwidth memory (HBM) chips, a key component of artificial intelligence (AI) technology. “The first quarter is the lowest point of this cycle. The second half will be better than the first for the whole semiconductor industry and for GlobalWafers,” chairwoman Doris Hsu (徐秀蘭) said during an online investors’ conference. “HBM would definitely be the key growth driver in the second half,” Hsu said. “That is our big hope
The consumer price index (CPI) last month eased to 1.95 percent, below the central bank’s 2 percent target, as food and entertainment cost increases decelerated, helped by stable egg prices, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. The slowdown bucked predictions by policymakers and academics that inflationary pressures would build up following double-digit electricity rate hikes on April 1. “The latest CPI data came after the cost of eating out and rent grew moderately amid mixed international raw material prices,” DGBAS official Tsao Chih-hung (曹志弘) told a news conference in Taipei. The central bank in March raised interest rates by