STEEL
China Steel profit rises
China Steel Corp (中鋼), the nation’s only integrated steelmaker, yesterday reported that consolidated pre-tax profit in the first four months of the year rose 12 percent year-on-year to NT$7.98 billion (US$274.1 million) on the back of robust demand. Revenue climbed 13 percent to NT$125.32 billion during the same period, a company statement said. The steelmaker, whose shares yesterday edged down 0.43 percent to NT$23.30 on the main board, is scheduled to announce on Friday its latest prices for next quarter’s shipments.
TECHNOLOGY
Asustek unfazed by Nichia
Asustek Computer Inc (華碩) yesterday said that its smartphone business would not be affected by a patent infringement suit launched on Friday by Japanese LED maker Nichia Corp. Asustek said that Nichia’s patent on white LED flash for smartphones has expired, and the litigation would focus on patent infringement stemming from sales of older smartphone models launched in 2015 and 2016. Asustek said that it would work with its suppliers in responding to Nichia’s litigation. The Japanese patents involved in the case are numbered 177317 and 5610056.
ELECTRONICS
Hon Hai to raise HMD stake
Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler, yesterday said it plans to invest an additional US$62 million to increase its stake in Nokia-branded smartphone vendor HMD Global Oyj. The investment is to be made through its subsidiary, FIH Mobile Ltd (富智康), it said in a filing with the Taiwan Stock Exchange. FIH said it has agreed to subscribe to 244,720 preferential shares of HMD Global through its subsidiary Wonderful Stars Ptd. The subscription would boost FIH’s shareholding of HMD Global to 61.65 percent, FIH said in a filing with the Hong Kong Exchange and Clearing Ltd.
DISPLAYS
AUO at LA Display Week
AU Optronics Corp (AUO, 友達光電) yesterday said it is to showcase a full range of LCD panels adopting mini-LED backlight technology for gaming monitors, gaming notebook computers and virtual-reality headsets this week at the Society for Information Display’s “Display Week” in Los Angeles. AUO said that its 27-inch ultra-high-definition (UHD) 4K gaming monitor display with 144Hz ultra-high refresh rate adopts direct-lit mini-LED backlight. Meanwhile, its 15.6-inch UHD 4K LTPS LCD for gaming notebook computers combines UHD 4K ultra-high resolution and direct-lit mini-LED backlight technology to boast outstanding local dimming performance. AUO is also to showcase a 6-inch in-cell touch panel, which also adopts mini-LED backlight technology, and is only 1.1mm thick to meet diverse customer demands for mobile device applications.
EQUITIES
TAIEX edges down
The TAIEX closed moderately lower yesterday as investors locked in gains built earlier in the session and the previous day amid fears over a possible major pullback after the main board breached 11,000 points, dealers said. Turnover remained moderate, suggesting that investors were reluctant to chase prices, even though concerns over an immediate trade war between the US and China receded after the two sides agreed to hold off on tariffs, they said. The TAIEX ended down 27.47 points, or 0.25 percent, at the day’s low of 10,938.73, on turnover of NT$133.95 billion.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
US CONSCULTANT: The US Department of Commerce’s Ursula Burns is a rarely seen US government consultant to be put forward to sit on the board, nominated as an independent director Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday nominated 10 candidates for its new board of directors, including Ursula Burns from the US Department of Commerce. It is rare that TSMC has nominated a US government consultant to sit on its board. Burns was nominated as one of seven independent directors. She is vice chair of the department’s Advisory Council on Supply Chain Competitiveness. Burns is to stand for election at TSMC’s annual shareholders’ meeting on June 4 along with the rest of the candidates. TSMC chairman Mark Liu (劉德音) was not on the list after in December last