Short supply worsens
The short supply of flash memory chips has worsened, Phison Electronics Corp (群聯) chairman Pua Khein-seng (潘健成) said in a statement yesterday, citing better-than-expected iPhone 7 sales. Supply is expected to remain tight until the end of this year, Pua said. Meanwhile, the board of the world’s No. 3 NAND flash controller supplier yesterday signed off on restated financial statements for the past seven-and-a-half years as requested by the Financial Supervisory Commission earlier this month, according to a separate statement. The board also approved a plan to acquire all shares of Everspeed Technology Ltd (永馳科技) for just NT$1 to strengthen its operational structure. Pua currently has a controlling stake in Everspeed.
FedEx, PCSC in partnership
US-based FedEx Express, a subsidiary of FedEX Corp, yesterday announced a partnership with Taiwan’s President Chain Store Corp (PCSC, 統一超商) in a move to bring its international priority document shipment service to more than 5,000 7-Eleven convenience stores across the nation. Consumers can obtain a payment code at FedEx’s Web site and pay and drop off as well as pick up documents for delivery at 7-Eleven stores around the clock, the companies said in a joint statement.
Public confidence dips
Public confidence in the economy and equity investments dipped this month as investors turned skittish toward the US Federal Reserve’s more hawkish stance on its planned interest rate hike cycle, a survey by Cathay Financial Holding Co (國泰金控) showed yesterday. Despite recent improvements in the nation’s exports and imports, an index tracking the public’s optimism had dropped to minus-22 from minus-19 a month earlier. Optimism in the local bourse and risk appetite fell from minus-20.5 to minus-29.4 and from minus-8.8 to minus-12.4, the survey showed.
ITRI, Nvidia sign MOU
The Industrial Technology Research Institute (ITRI, 工研院) yesterday signed a memorandum of understanding (MOU) with Nvidia Inc to develop self-driving cars. The institute is testing its first prototype autonomous car in Hsinchu after the project began more than one year ago, focusing on public use in theme parks, high-speed railways and mass transportation systems. Based on the MOU, ITRI will adopt Nvidia’s self-driving DRIVE PX2 platform and chips in developing its own autonomous vehicles.
US gets yuan clearing bank
Bank of China Ltd’s (中國銀行) New York branch will be the first yuan clearing bank in the US, the People’s Bank of China said in a statement yesterday. The Chinese government has named yuan clearing banks in 21 overseas cities and countries as part of a drive to promote the use of the currency for transactions worldwide. Bank of China has received the most yuan clearing mandates of China’s banks with 11, including Taipei, Hong Kong, Macau, Sydney and Paris.
Yang to head Greater China
US private-equity firm KKR & Co on Tuesday announced the appointment of Paul Yang (楊文鈞), president and chief executive officer of China Development Financial Holding Corp (中華開發金控), as its head of Greater China, as the firm continues building its Chinese business. Yang, 48, will be based in Hong Kong and his appointment will take effect in January next year, according to a press release.
PRESSURE FROM THE US: Huawei said a decision by the US was ‘arbitrary and pernicious, and threatens to undermine the entire [technology] industry worldwide’ Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has stopped new orders from Huawei Technologies Co (華為) in response to Washington’s move aimed at further limiting chip supplies to the Chinese company, the Nikkei reported yesterday, citing multiple sources. The orders that TSMC took before the new ban and those that were already in production are not affected, and could continue to proceed if those chips could be shipped before the middle of September, the report said. TSMC, the world’s biggest contract chipmaker and a key Huawei supplier, on Thursday last week announced plans to build a US-based plant and on Friday added that
MediaTek Inc (聯發科), which designs chips used in mobile phones, yesterday launched its new 5G Dimensity 820 system-on-chip (SoC), targeting mid-range to high-end smartphones. The company expects the penetration of 5G technology to gain pace quickly this year and not be affected too much by the COVID-19 pandemic. MediaTek said it aims to expand its 5G chip portfolio this year to cover phones of varying prices after it shipped its first 5G SoC, the Dimensity 1000, last quarter. The Dimensity 820, made by Taiwan Semiconductor Manufacturing Co (台積電) on 7-nanometer technology, is designed for mid-range to high-end 5G phones. MediaTek expects to infiltrate the
TV and online retailer Momo.com Inc (富邦媒體) yesterday said it has set up a new logistics subsidiary, Fu Sheng Logistics Co (富昇物流), to oversee the company’s extensive shipping operations. Leveraging Momo’s 23 satellite warehouses and distribution centers nationwide, Fu Sheng will be in charge of executing the retailer’s same-day shipment plan for deliveries in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, Momo said in a press release. Seeking to further shorten its supply chain, the company is to set up another seven satellite warehouses and distribution centers by the end of the year. “Fu Sheng has a fleet of 200 couriers
US-CHINA TENSIONS: The company said that it supplies self-designed chips to the Chinese company and, as such, is not affected by the latest US export restrictions Macronix International Co (旺宏電子) said it does not expect its shipments of memory chips to Huawei Technologies Co (華為) to be affected by the latest US export restrictions on the Chinese tech giant. “As long as the company [Huawei] places orders, we will ship [chips], unless the [Taiwanese] government restricts all Taiwanese companies from shipping” to Huawei, Macronix chairman and chief executive officer Miin Wu (吳敏求) said on Monday in Hsinchu. The US Department of Commerce on Friday took a further step to block chip supplies from non-US companies to Huawei by requiring foreign semiconductor makers to get US government permission before