Far EasTone Telecommunications Co (遠傳電信) yesterday appointed AT&T Inc veteran Chee Ching (井琪) as its president to help the firm accelerate its transformation into a provider of telecom and digital services.
The adjustment came as the world’s wireless carriers are ushering in next-generation 5G wireless technology.
The National Communications Commission is scheduled to arrange a spectrum auction in 2020 for domestic operators to install their 5G networks.
As developed countries, such as the US, South Korea and Japan, are aggressively deploying 5G networks, “Far EasTone will also make every effort to embrace the arrival of the 5G era,” Ching said.
The technology is to have many applications, Ching said, adding that Far EasTone’s strategy is to offer services that blend telecom and digital services on the 5G network.
Artificial intelligence-enabled applications, applications for artificial and virtual reality, big data analysis and cloud-based services are among the new services.
The company said it believes it is not healthy to offer flat rates for 5G services.
Ching was tapped as the company’s chief transformation officer three months ago, after working at AT&T for 23 years.
Outgoing president Yvonne Li (李彬) is to be promoted to consultant to Far Eastern Group (遠東集團).
During her eight-year tenure, Li has helped the company nearly double its market value to NT$235 billion (US$7.61 billion) from NT$135 billion in 2010.
The personnel adjustment is to take effect on Jan. 7.
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
Saudi Arabian Oil Co (Aramco), the Saudi state-owned oil giant, yesterday posted first-quarter profits of US$26 billion, down 4.6 percent from the prior year as falling global oil prices undermine the kingdom’s multitrillion-dollar development plans. Aramco had revenues of US$108.1 billion over the quarter, the company reported in a filing on Riyadh’s Tadawul stock exchange. The company saw US$107.2 billion in revenues and profits of US$27.2 billion for the same period last year. Saudi Arabia has promised to invest US$600 billion in the US over the course of US President Donald Trump’s second term. Trump, who is set to touch
SKEPTICAL: An economist said it is possible US and Chinese officials would walk away from the meeting saying talks were productive, without reducing tariffs at all US President Donald Trump hailed a “total reset” in US-China trade relations, ahead of a second day of talks yesterday between top officials from Washington and Beijing aimed at de-escalating trade tensions sparked by his aggressive tariff rollout. In a Truth Social post early yesterday, Trump praised the “very good” discussions and deemed them “a total reset negotiated in a friendly, but constructive, manner.” The second day of closed-door meetings between US Secretary of the Treasury Scott Bessent, US Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng (何立峰) were due to restart yesterday morning, said a person familiar
RSS