INTERNET OF THINGS
Trans-IoT, Taian launch UBI
Trans-IoT Technology Co Ltd (創星物聯), an Internet of Things (IoT) subsidiary of Hon Hai Precision Industry Co (鴻海精密), yesterday partnered with Taian Insurance Co (泰安產物保險) to introduce a usage-based insurance (UBI) bundle including its IoT device for car owners in an effort to tap into the automotive electronics market. UBI is a type of vehicle insurance whereby the costs are dependent on type of vehicle used, the covered distance, driver behavior and where it is driven. Trans-IoT’s device, manufactured by Hon Hai, monitors driving data to adjust insurance payments, Trans-IoT general manager Keanu Lin (林俊彥) told a press conference in Taipei.
ELECTRONICS
Vive launched in S Korea
HTC Corp (宏達電) yesterday launched its Vive virtual reality headset in South Korea, as the company participated in the G-STAR 2016 game exhibition in Busan. HTC is offering a head-mounted display, wireless controllers and room-scale movement for 1.25 million won (US$1,000), the Taiwanese firm said in a press release. In addition to the Vive’s official Web site, the device is also available at South Korean online stores Auction and GMarket, thanks to a collaboration with local distributor JCHyun System Inc, HTC said. By the end of this year, Vive would be available in more than 30 stores, HTC said.
INTERNET
Tencent profit disappoints
Tencent Holdings Ltd (騰訊) shares fell yesterday, despite the Chinese Internet giant posting a more than 40 percent increase in net profit fueled by a surge in game revenue. In a filing late on Wednesday, Tencent announced a 43 percent year-on-year increase in net profit for the third quarter of 10.65 billion yuan (US$1.56 billion) thanks to an 87 percent jump in revenue from smartphone games. Total revenue came in at 40.39 billion yuan, up 52 percent. However, the result came in below analysts’ forecasts, while it also said mobile game sales rose just 3 percent from the previous quarter. Tencent shares closed 1.07 percent lower at HK$194.80 in Hong Kong trading.
INTERNET
Trivago seeking US listing
Expedia Inc’s German hotel-booking site Trivago has filed to launch an initial public offering in the US. Trivago, through holding company Travel BV, filed on Monday for a US$400 million offering, a placeholder amount that could change. It is seeking to list its American depositary receipts on the NASDAQ, according to the filing. Trivago posted a net loss of US$57.8 million on revenue of US$425.6 million and related-party revenue of US$231.8 million in the first nine months of the year, according to the filing. Expedia bought Trivago in 2012.
INSURANCE
Anbang invests in Toronto
China’s Anbang Insurance Group Co (安邦保險集團) is to purchase an office and retail tower in downtown Toronto that counts the Government of Ontario as a major tenant, according to people familiar with the deal. Anbang is close to an agreement to buy the 30-story building at 777 Bay Street from closely held development and investment firm Canderel and pension-fund manager OPTrust for at least C$530 million (US$395 million), the people said. Montreal-based Canderel and Toronto-based OPTrust each hold a 50 percent stake in the property.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained