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Sat, Jan 22, 2005 - Page 12 News List

World Business Quick Take

AGENCIES

■ Mobile Phones

More Razrs on their way

Motorola Inc will introduce more versions of its Razr-brand mobile phone handsets, including a candy-bar shaped model later this year, Business Week reported. The company, the world's second-biggest mobile-phone maker, has shipped about 750,000 Razr phones, three times more than Motorola Chief Executive Edward Zander forecast, the magazine said. The phones sell for US$500 each, Business Week said. Motorola's fourth-quarter revenue was US$8.8 billion, up 27 percent from a year earlier, the magazine said.

■ Casinos

Developer hedges its bets

Property developer CapitaLand is hedging its bets for Singapore's proposed casino resort by striking partnerships with two rival overseas operators, it said yesterday. With the government suggesting two possible locations, Capita-Land has joined Bahamas-based Kerzner International for the site on the resort island of Sentosa and teamed up with Las Vegas-based MGM-Mirage in a separate proposal for Marina Bayfront, according to its statement. A casino has not yet been approved and faces mounting opposition from Singaporeans on moral grounds. The city-state already has gambling in the form of lotteries and horse racing. If the casino plans get the green light, the govern-ment has announced a number of safeguards, including an entry ban on people under 21 and a S$100 (US$60) levy on locals for entry every day.

■ Plasma Displays

Fujitsu not scaling back

Fujitsu Ltd, Japan's biggest maker of computer servers, said it has made no decision to scale back its plasma display panel business after a report said the company would cut its stake in a display venture with Hitachi Ltd. "We and our partner, Hitachi Ltd, are always talking about the future of our plasma display venture, but nothing has been decided," Tokyo-based Fujitsu said in a statement distributed at the Tokyo Stock Exchange. Fujitsu may sell shares in the venture to Hitachi, "significantly" scaling back its plasma display business, the Asahi newspaper reported, without saying where it obtained the information. The paper said Fujitsu has entered into talks with Hitachi to sell it a major portion or all of its stake in their 50-50 joint venture, Fujitsu Hitachi Plasma Display. Fujitsu started developing the panels in 1968 and succeeded in making a large color panel in 1995 for the first time in the world.

■ Automakers

Compensation discussed

Mitsubishi Motors is in talks with DaimlerChrysler AG to compensate the German automaker for damages related to recall scandals at the Japanese automaker's truck unit, the company said yesterday. The talks on possible compensation are continuing, although Mitsubishi Motors has not received an official demand for restitution from Daimler-Chrysler, the Japanese automaker said in a statement. DaimlerChrysler was a key partner for the Tokyo-based automaker before deciding last year to end cash infusions to bail out the troubled company. DaimlerChrysler is miffed that scandals about a systematic cover-up of auto defects emerged after it took a stake in both Mitsubishi Motors and its truck unit. Mitsubishi Motors said the compensation was still undecided. It denied a report yesterday in the Nihon Keizai Shimbun that the settlement may be between ?50 billion (US$484 million) and ?80 billion.

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