Quanta Storage Inc (廣明) yesterday saw its shares tumble by the 10 percent daily limit after the company lost a price-fixing case and was ordered, together with other defendants, to pay Hewlett Packard Inc US$176 million.
Quanta Storage nosedived to NT$41.4 on the Taipei Exchange.
Quanta Storage, a subsidiary of laptop maker Quanta Computer Inc (廣達), is shifting away from disk drive manufacturing by focusing on a new industrial robotics business.
Jurors at a federal court in Houston, Texas, reached a verdict in favor of HP, which claimed that Quanta Storage and its US unit; Sony Optiarc Inc; Toshiba Corp; Hitachi-LG Data Storage Inc; Panasonic Corp; NEC Corp; and Samsung Electronics Co conspired to raise the prices of disk drives, Taoyuan-based Quanta Storage said.
Quanta Storage said that it regretted the jury’s misunderstanding about its business model.
The company has a different business model from those of the other defendants, as it only assembles disk drives on a contract basis for Sony, which sold the completed products directly to HP, Quanta Storage said.
Before the verdict, the Fair Trade Commission and the US Department of Justice had found that Quanta Storage and its US unit did not breach any rules and did not hamper market competition, the company said, adding that as a result, no penalty was imposed.
Quanta Storage said in a filing with the Taiwan Stock Exchange that it has received notification from its lawyers about the preliminary verdict.
The company is discussing with its lawyers further legal action to safeguard shareholders’ interests, the filing said.
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
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in server chips, expects revenue to decline this year due to sagging demand for 5-nanometer artificial intelligence (AI) chips from a North America-based major customer, a company executive said yesterday. That would be the first contraction in revenue for Alchip as it has been enjoying strong revenue growth over the past few years, benefiting from cloud-service providers’ moves to reduce dependence on Nvidia Corp’s expensive AI chips by building their own AI accelerator by outsourcing chip design. The 5-nanometer chip was supposed to be a new growth engine as the lifecycle
RSS