Network-equipment maker Accton Technology Corp (智邦科技) yesterday announced it planned to form a joint venture with Vietnam’s largest mobile phone operator.
Following a board meeting held yesterday, the Hsinchu-based maker of computer networking devices said it would establish the venture with Vietnam Military Telecommunications Corp, or Viettel, with registered capital of US$30 million.
According to Accton’s stock exchange filing released after the local stock market closed yesterday, the two companies hope the new venture can help them “meet market demand and enhance operational efficiency.”
The venture, which is expected to be formed in Hanoi by the end of next month, will also allow the two companies to access other emerging markets in Southeast Asia, like Cambodia.
The filing did not, however, disclose the share each side is likely to own in the new venture.
Shares of Accton dropped 0.6 percent to NT$15.4 on the Taiwan Stock Exchange yesterday. The stock has fallen 0.96 in the first three trading sessions of the new year, compared with an increase of 1.7 percent on the benchmark TAIEX.
Accton is investing in a market where the economy has expanded swiftly in recent years, while the country’s stock market surged around 57 percent last year.
Vietnam’s GDP grew 6.9 percent in the fourth quarter of last year.
The country also has a revised 6.04 percent gain in the previous quarter, according to the latest statistics released by the General Statistics Office of Vietnam on Dec. 31.
Last year, the country posted an increase of 5.32 percent in GDP, after it grew 6.18 percent in 2008, according to information posted by the national statistics office on its Web site.
Accton is not the first Taiwanese company to form a partnership with the Vietnamese telecom operator.
Chunghwa Telecom Co (中華電信), the nation’s top phone company, formed a US$30 million joint venture with Viettel in 2008 to provide Internet data center services in Hanoi.
Chunghwa Telecom holds a 30 percent stake in Viettel-CHT Co Ltd, which provides broadband leasing and Web hosting services in Hanoi, while Viettel controls the remaining 70 percent.
Also yesterday, Accton posted its latest sales figure for last month.
Sales grew 38.9 percent to NT$1.812 billion (US$57 million) from NT$1.305 billion a year earlier, and the figure represented a 20.2 percent rise from NT$1.508 billion in the previous month, the company’s tallies showed.
For all of last year, however, revenue dropped 5.2 percent to NT$14.356 billion because of the global economic slowdown.
UNPRECEDENTED PACE: Micron Technology has announced plans to expand manufacturing capabilities with the acquisition of a new chip plant in Miaoli Micron Technology Inc unveiled a newly acquired chip plant in Miaoli County yesterday, as the company expands capacity to meet growing demand for advanced DRAM chips, including high-bandwidth memory chips amid the artificial intelligence boom. The plant in Miaoli County’s Tongluo Township (銅鑼), which Micron acquired from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion, is expected to make a sizeable capacity contribution to the company from fiscal 2028, the company said in a statement. It would be an extended production site of Micron’s large-scale manufacturing hub in Taichung, the company said. As the global semiconductor industry is racing to reach US$1 trillion
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
Memory chip stocks extended their losses yesterday after Alphabet Inc’s Google publicized research that could allow more efficient use of the storage needed for artificial intelligence (AI) development. SK Hynix Inc and Samsung Electronics Co, South Korean leaders in the market, fell more than 6 percent and about 5 percent respectively in Seoul. In the US, Micron Technology Inc, Western Digital Corp and Sandisk Corp slid more than 2 percent in pre-market trading, after they all closed lower on Wednesday. Memory companies have been on a tear in recent months as the rapid development of AI infrastructure triggered a spike in chip
RSS