iPhone X supply to be short
With many consumers waiting to purchase Apple Inc’s premium iPhone X model that is to go on sale on Friday next week, initial supply is unlikely to meet strong demand, industry sources said yesterday. The sources said that interest in the iPhone X has resulted in about 500,000 inquiries, higher than the reported initial supply of about 100,000. According to local media, the first batch of deliveries has been limited to between 50,000 and 60,000. There has also been speculation that shipments of the model would be hampered by difficult assembly and component shortages. A second batch is expected to arrive in Taiwan before next week, boosting the initial supply to about 100,000 units, reports said. Preorder sales are to begin tomorrow.
Taiwan still in China market
The New Southbound Policy is Taiwan’s way of exercising its soft power and diversifying into new markets, Minister without Portfolio John Deng (鄧振中) said yesterday, adding that it is in no way a sign that the nation has given up on the Chinese market. Deng underscored the importance of the markets of the 18 nations involved in the policy, saying that Vietnam and the Philippines with their about 7 percent GDP growth rate are markets the nation cannot miss. The policy’s aim to reduce Taiwan’s economic dependence on China does not mean that it has given up on the Chinese market, Deng said. “Diversification is beneficial to the long-term health of the economy,” he added.
PChome shakes up board
PChome Online Inc (網路家庭), the nation’s largest online shopping platform operator, yesterday announced a board restructure, with a five-person team. The decision was made effective yesterday. The decisionmaking team includes PChome chairman Jan Hung-tze (詹宏志), chief operating officer Tsai Kai-wen (蔡凱文) and the heads of PChome’s subsidiaries, PChomestore Inc (商店街) general manager Su Yun (蘇芸) and Ruten.com (露天拍賣) chief operating officer Vicky Tseng (曾薰儀), it said. Jan said in a statement that the team would centralize the company’s resources and gain advantages more efficiently.
Compal eyes care market
Contract electronics manufacturer Compal Electronics Inc (仁寶) yesterday said it is to participate in this year’s Elder Care Asia event at Kaohsiung Exhibition Hall from Thursday to Sunday next week, showcasing the company’s “smart” elder care solutions originally developed for daycare centers. Compal’s solutions have been adopted by several long-term care centers certified by the Taoyuan City Government, the company said in a statement.
Aurora posts record profit
Office appliance sales agent Aurora Group (震旦行) yesterday posted unaudited net income of NT$411 million (US$13.58 million) for last quarter, the company’s highest quarterly net profit. The result represented an annual growth of 19.48 percent from NT$343.99 million in the same period last year and a 15.89 percent increase from the previous quarter’s NT$345.67 million, Aurora’s filing with the Taiwan Stock Exchange showed. That brought the firm’s combined net profit in the first three quarters to NT$1.08 billion, surging 17 percent from the same period last year, the filing showed. Aurora attributed the growth to robust office appliances demand from China and steady orders at home.
‘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
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB
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