ELECTRONICS
HTC forms VR alliance
HTC Corp (宏達電) yesterday announced at the Mobile World Congress Shanghai that it has formed a virtual reality (VR) alliance with 28 global investment firms, aiming to provide US$10 billion to VR content developers around the world. The Virtual Reality Venture Capital Alliance is targeted to help foster long-term growth in the VR industry through sharing and investing in both technology and content creators, HTC said. Among the investment firms are Sequoia Capital (紅杉資本) and Matrix Partners (經緯中國). Last week, HTC chairwoman Cher Wang (王雪紅) said the company in April launched a US$100 million accelerator program for VR start-ups in Taipei, Beijing and San Francisco.
IC DESIGNERS
MediaTek joins 5G center
Handset chip designer MediaTek Inc (聯發科) yesterday said it has joined a 5G innovation center created by China Mobile Ltd (中國移動) in a bid to secure a better position in China’s 5G market. The two companies will collaborate in facilitating the standardization of 5G technology and developing an ecosystem, products and application platforms together, MediaTek said in a statement. The Taiwanese firm said it aims to become one of the world’s first 5G chip suppliers in 2020.
SECURITY
Domestic sector eyes growth
Only 0.7 percent of homes in Taiwan are equipped with modern security systems, compared with 3 to 4 percent in Japan and 2 to 3 percent in South Korea, implying ample room for the domestic security service sector’s growth, Macquarie Capital Securities Ltd’s Taiwan branch said in a report released yesterday. The rising penetration rate in the residential sector, fueled by an aging population and growing demand in the smart home segment, will drive long-term growth for the sector, the brokerage said. As brand reputation and service quality are most critical to gain market share in the residential market, Taiwan Secom Co (中興保全) — the largest player in Taiwan with more than 50 percent market share — should be among the best performers in the sector, Macquarie said.
ECONOMIC AFFAIRS
Vice minister appointed
The Ministry of Economic Affairs yesterday appointed Intellectual Property Office Director-General Wang Mei-hua (王美花) to be its vice minister, citing her expertise in law and skills in communication and leadership. The ministry said Wang will supervise affairs of the Bureau of Foreign Trade, the Intellectual Property Office and the Department of Commerce after she takes the position next month. One of the priorities awaiting Wang would be supervising the drafting of an amendment to the Company Act (公司法) in an effort to improve Taiwan’s environment for start-ups, said a ministry official who is familiar with the matter.
INTERNET
Chinese censor replaced
China is replacing its top Internet regulator and censor, Lu Wei (魯煒), who had become the face of the government’s increasingly complicated dealings with foreign technology companies. Xinhua news agency yesterday reported that Lu would be replaced by his deputy, Xu Lin (徐麟), in implementing Beijing’s policies concerning the Internet, including overseeing social media and negotiating with technology firms that want to do business in China. The outspoken and gregarious Lu spent years defending China’s censorship policies and restrictions on foreign social media platforms as a matter of national security.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
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
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