TECHNOLOGY
Apple plans Shenzhen R&D
Apple Inc plans to set up a research and development center (R&D) in Shenzhen, China, the US tech giant said yesterday, as it looks to spur growth in the world’s second-largest economy amid growing competition. The Shenzhen hub follows a similar plan for a center in Beijing and comes as Apple is looking to bounce back in China. Apple chief executive Tim Cook announced the plan during a meeting with senior officials from the southern Chinese city where he is attending a nationwide innovation event, the Shenzhen Economic Daily reported.
TECHNOLOGY
Ericsson misses profit target
Ericsson AB yesterday said that third-quarter earnings missed its expectations after sales plunged amid waning demand for wireless-network equipment. Revenue dropped 14 percent to 51.1 billion kronor (US$5.8 billion) and gross margin narrowed to 28 percent, it said in a statement. Operating profit dropped to 300 million kronor. “Our result is significantly lower than we expected, with a particularly weak end of the quarter, and deviates from what we previously have communicated regarding market development,” CEO Jan Frykhammar said in the release. “The negative industry trends have further accelerated affecting primarily Segment Networks.”
TECHNOLOGY
YouTube buys FameBit
Google-owned YouTube on Tuesday said it had bought FameBit, a marketplace where video makers can connect with brands interested in sponsoring their creations. YouTube did not disclose financial terms of the deal to buy FameBit, which it described as a technology platform that helps creators and brands make matches leading to sponsorships or paid promotions. Southern California-based FameBit will continue as a standalone operation for now, cofounders David Kierzkowski and Agnes Kozera said in a message posted on its Web site.
FOOD
Domino’s to add UK stores
Britain’s Domino’s Pizza Group PLC yesterday said that it expected to open more stores this year than previously thought as it posted a rise in underlying sales in the region. Britain’s biggest pizza delivery firm also raised its UK store opening expectation to 80 from 70 for this year, after the like-for-like sales for the third quarter from June 27 to Sept. 25 in its core UK business was up 3.9 percent, the company said. The group, which operates more than 920 stores, said a surge in online orders boosted its third-quarter sales. The company, which also operates in Ireland, Switzerland and Germany, posted a 7.6 percent growth in underlying sales in Ireland and 16.7 percent jump in total Swiss sales.
TRADE
Singapore lax on illicit trade
Singapore — with its flourishing trade, orderly life and almost non-existent crime — is hardly a place one would associate with illegal trade, but a new report by a reputed organization reveals that the city-state has a poor record of preventing just that. The Economist Intelligence Unit yesterday released a 100-point index that placed Singapore at seven out of 17 Asian countries for its ability to prevent illicit trade. The index evaluated countries against 14 indicators, including transparency, intellectual property and customs. Singapore scored 69.8 points to tie with Taiwan. Still, it is behind neighbor Malaysia (71.8), often seen as a country with a far less-efficient government. The top performers were Australia (85.2), New Zealand (81.8) and Hong Kong (81.4).
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Ashton Hall’s morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall’s brand of choice for drinking, brushing his teeth and submerging himself — that is fantastic news. “We’re so thankful to this incredible fitness influencer called Ashton Hall,” Saratoga owner Primo Brands Corp’s CEO Robbert Rietbroek said on an earnings call after Hall’s morning routine video went viral. “He really helped put our brand on the map.” Primo Brands, which was not affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) yesterday expressed a downbeat view about the prospects of humanoid robots, given high manufacturing costs and a lack of target customers. Despite rising demand and high expectations for humanoid robots, high research-and-development costs and uncertain profitability remain major concerns, Lam told reporters following the company’s annual shareholders’ meeting in Taoyuan. “Since it seems a bit unworthy to use such high-cost robots to do household chores, I believe robots designed for specific purposes would be more valuable and present a better business opportunity,” Lam said Instead of investing in humanoid robots, Quanta has opted to invest
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