Tue, Jul 18, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer

SMARTPHONES

HTC Alexa launched in US

HTC Corp (宏達電) yesterday announced the availability of Amazon.com Inc’s Alexa Voice Service (AVS) in the US market via Google’s Play Store. The HTC U11 handset with HTC Alexa is the world’s first smartphone to feature Amazon’s Alexa, HTC said in a statement. The Taiwanese smartphone company said the HTC Alexa app would be available on Google Play in the UK and Germany later this month and next month respectively. HTC shares yesterday gained 1.81 percent to close at NT$73 in Taipei trading.

EQUITIES

TAIEX rallies to close higher

Shares in Taiwan closed slightly higher after moving in a narrow range ahead of the nearest stiff technical resistance level at about the 10,500-point mark on the TAIEX, dealers said. While the bellwether electronics sector remained in consolidation mode, ample liquidity prompted investors to park their funds in select old economy stocks, in particular in the cement, petrochemical and steel sectors, which lent support to the broader market, they said. Media reports have said that iPhone assemblers are struggling to improve their yield rates for the new model and that full commercial production could be delayed by one or two months. The TAIEX closed up 13.63 points, or 0.13 percent, at 10,457.54 after fluctuating between 10,436.31 and 10,490.05 on turnover of NT$98.94 billion (US$3.25 billion). With the weighted index moving closer to the 10,500-point level in the early morning, some selling emerged of large cap high-tech stocks, which pushed the broader market into negative territory before bargain hunters returned, they said.

PANEL MAKERS

US company breaks ground

Applied Materials Inc yesterday broke ground on a new display manufacturing facility in the Tainan Science Park to meet rising demand. The US government said that the new 5.1 hectare plant is the first of NT$3 billion of investment in Taiwan it is planning over the next few years. The global display market has been shifting toward 10th-generation LCD manufacturing technology for larger panels, as well as organic LED displays, while display applications have expanded to include bicycles and automobiles, the US company said.

APPAREL

Company buys FILA stake

Tainan Enterprise (Cayman) Co Ltd (台南企業開曼) — which mainly sells apparel under its self-owned Tony Wear brand in China — yesterday said it is to buy a 98.57 percent stake in sportswear brand FILA Sport Taiwan Ltd for NT$287.8 million. FILA, which has paid-in capital of nearly NT$200 million, operates 88 stores in Taiwan. Tainan Enterprise is to obtain the distribution rights to the Italian brand through the acquisition, which is expected to contribute to its sales and help it expand its presence significantly. Tainan Enterprise posted a net loss of NT$136.6 million for the whole of last year.

FOOTWEAR

Fulgent Sun profit increases

Outdoor footwear supplier Fulgent Sun Group (鈺齊國際) yesterday reported a net profit of NT$237 million for the second quarter, a 22.16 percent increase from a year earlier, thanks to higher gross margin supported by a better product mix. Gross margin over the period rose from 17.8 percent to 20.6 percent year-on-year, boosting operating income by 76.1 percent to NT$307 million. Accumulated net profit reached NT$502 million in the first half of the year, while revenue rose 4.96 percent year-on-year to NT$4.92 billion.

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