ELECTRONICS
Wistron to invest in Vietnam
Contract electronics manufacturer Wistron Corp (緯創) said on Thursday last week that its board of directors has approved an investment of US$45 million to set up a wholly owned subsidiary in Vietnam to meet its long-term investment needs. The new subsidiary, Wistron InfoComm (Vietnam) Co Ltd, is expected to spend up to 5.43 trillion dong (US$233.98 million) to purchase machinery, equipment and build plants, Wistron said in a regulatory filing.
APPLICATIONS
New EasyCard app coming
EasyCard Corp (悠遊卡) plans to launch a mobile payment service next year. The EasyWallet app is to be upgraded on Jan. 6 among 500 test users and become available to the wider public for payment service by the end of the first quarter, the company said last week. The app allows users to manage up to 20 EasyCards on a single account and automatically top up their cards when the balance drops below a designated amount. The range of services to be provided include in-store payments and money transfers, with single transactions of up to NT$50,000 and a monthly limit of NT$300,000, the company said.
START-UPS
Logo for Taiwan start-ups
Taiwan’s national Startup Island Taiwan logo is to be displayed globally for the first time at the 2020 CES consumer electronics show early next year, the National Development Council (NDC) said on Wednesday last week. Taiwanese start-ups showcasing their innovative products at the event are to all use the logo to promote Taiwan during the Jan. 7 to 10 trade fair in Las Vegas, the council said. The logo is for use by all Taiwanese start-up companies and their products.
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales
Advanced Micro Devices Inc (AMD) suffered its biggest stock decline in more than a month after the company unveiled new artificial intelligence (AI) chips, but did not provide hoped-for information on customers or financial performance. The stock slid 4 percent to US$164.18 on Thursday, the biggest single-day drop since Sept. 3. Shares of the company remain up 11 percent this year. AMD has emerged as the biggest contender to Nvidia Corp in the lucrative market of AI processors. The company’s latest chips would exceed some capabilities of its rival, AMD chief executive officer Lisa Su (蘇姿丰) said at an event hosted by
TECH JUGGERNAUT: TSMC shares have more than doubled since ChatGPT’s launch in late 2022, as demand for cutting-edge artificial intelligence chips remains high Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted a better-than-expected 39 percent rise in quarterly revenue, assuaging concerns that artificial intelligence (AI) hardware spending is beginning to taper off. The main chipmaker for Nvidia Corp and Apple Inc reported third-quarter sales of NT$759.69 billion (US$23.6 billion), compared with the average analyst projection of NT$748 billion. For last month alone, TSMC reported revenue jumped 39.6 percent year-on-year to NT$251.87 billion. Taiwan’s largest company is to disclose its full third-quarter earnings on Thursday next week and update its outlook. Hsinchu-based TSMC produces the cutting-edge chips needed to train AI. The company now makes more
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