Lite-On revenue grows 4%
Lite-On Technology Corp (光寶科技) yesterday reported a 4 percent annual expansion and 1.2 percent monthly growth in revenue to NT$17.44 billion (US$539.29 million) last month. The contract electronics component maker’s consolidated revenue totaled NT$84.48 billion in the first five months of this year, down 1.7 percent from last year’s NT$85.48 billion, the firm said in a filing with the Taiwan Stock Exchange. Lite-On said sales at its optoelectronics business, which contributed 25 percent of the firm’s total revenue last month, enjoyed growth from a year ago, driven by increasing demand for Lite-On’s LED vehicle lighting and components. The information technology business segment accounted for 49 percent of sales, with revenue growth of 4 percent annually, of which cloud-computing application products posted continuous revenue growth year-on-year, the company said.
Winbond sees revenue rise
Memorychip maker Winbond Electronics Corp (華邦電子) yesterday said revenue totaled NT$3.45 billion last month, an increase of 12.22 percent year-on-year, but a drop of 1.88 percent on a monthly basis. Consolidated revenue reached NT$17.06 billion between January and last month, representing an annual increase of 6.89 percent, the company said in a statement.
Netflix sets up Hsinchu office
Netflix Inc yesterday established an office in Hsinchu and announced a partnership with SetTV (三立電視) in a bid to strengthen its foothold in the market. The US company has offices in eight nations, including in Taiwan, Japan and Singapore, according to the company. Netflix has seven employees in Taiwan, it said in a statement. The team in Taiwan is to focus on engineering development and seeking local partners, such as MediaTek Inc (聯發科), MStar Semiconductor Inc (晨星) and Realtek Semiconductor Corp (瑞昱), it said.
ASMedia bullish on outlook
IC designer ASMedia Technology Inc (祥碩科技), a subsidiary of PC vendor Asustek Computer Inc (華碩), expects performance in the second half of this year to outpace the first half, on the back of new product launches by Intel Corp and Advanced Micro Devices Inc, an ASMedia executive said yesterday. ASMedia also foresees stable business performance in the next two years due to the company’s strong relationships with its main clients, chairman Jerry Shen (沈振來) told shareholders at the firm’s annual general meeting in New Taipei City. The company has not yet released last month’s revenue. Consolidated sales in the first four months of this year jumped 11.1 percent annually from last year’s NT$487.33 billion to NT$541.43 billion, according to a filing.
ASE, SPIL see revenue rise
Advanced Semiconductor Engineering Inc (ASE, 日月光半導體), the world’s biggest chip packager and tester, yesterday said revenue rose 1.9 percent to NT$20.62 billion last month, compared with NT$20.23 billion in April. ASE expects a gradual recovery this quarter from an inventory-driven slowdown in the previous quarter. Siliconware Precision Industries Co Ltd (SPIL, 矽品精密) on Monday said that revenue jumped 9.3 percent to NT$7.46 billion last month, compared with NT$6.83 billion in April. SPIL last week agreed to ASE’s NT$113 billion takeover bid to become part of an industrial holding company created by ASE.
‘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
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
The US stock market has been on a tear, yet the country’s economy is in the dumps. So why do so many people believe — undoubtedly incorrectly — that the stock market has decoupled from reality? The economy many people experience, while bleak, is local, personal and, for the most part, either not publicly traded or plays only a small part in the stock market’s moves. To explain why these personal experiences have so little effect on equity markets, we must look more closely at the market role of the weakest industry sectors. The surprising conclusion: The most visible and economically vulnerable