BANKING
Yuan deposits at six-year low
Chinese yuan deposits held by banks operating in Taiwan last month fell to the lowest level in more than six years as the currency’s slumping interest rates made it less attractive, the central bank said on Friday. The balance of yuan deposits totaled 246.01 billion yuan (US$34.64 billion), down about 6.11 billion yuan from the end of March, central bank data showed. That is the lowest level since February 2014, when yuan deposits totaled 247.05 billion yuan. The decline in yuan deposits came after institutional investors allocated yuan-denominated funds to investments, or as payments for purchases, central bank Department of Foreign Exchange specialist Chen Wan-ning (陳婉寧) said, adding that retail investors also moved their deposits to buy yuan-denominated insurance policies.
ELECTRONICS
Hon Hai aids Japan, Israel AI
Hon Hai Precision Industry Co (鴻海精密) has teamed up with semiconductor firms in Japan and Israel to launch an artificial intelligence (AI) image solution. In a statement on Wednesday, Hon Hai said that it has formed a partnership with Japan-headquartered system-on-chip solution provider Socionext Inc and Israel-based AI chip designer Hailo to launch next-generation AI processing solutions for video analytics. The results would be used in diverse segments, such as smart cities, smart medical care and smart retail development, as well as the industrial Internet of Things, Hon Hai said, adding that it is combining its high-density, fan-less and edge computing solution — BOXiedge — with Socionext’s high-efficiency parallel processor — the SynQuacer SC2A11 — and Hailo’s deep learning processor — the Hailo-8 — in the development.
READJUSTMENT? Despite the rumors, a senior Google official said that the company plans to expand its AI research center in Taipei’s Shilin District Google Taiwan is reducing its workforce as the company continues to adjust operations to improve efficiency and focus resources on core goals, the Chinese-language Liberty Times (sister paper of the Taipei Times) reported yesterday. The Alphabet Inc unit said the organizational adjustments have begun and would continue, even though it did not put a figure on the number of potential job cuts or specify the affected departments in its Taiwan operations. The company’s response came after rumors circulated on social media about major job cuts at Google Taiwan. Some posts said the downsizing would target the company’s consumer electronics-related departments
Taiwanese aircraft maker Aerospace Industrial Development Corp (AIDC, 漢翔航空) yesterday announced that it has secured a 20-year partnership agreement with Canada-based Bombardier Inc. The two companies held a ceremony in Taipei yesterday to exchange signed copies of the agreement, launching the 20-year partnership under which AIDC would supply cockpit and forward fuselage structural components for Bombardier’s super-midsize Challenger 3500 business jets, the Taiwanese company said. The agreement represents a new milestone in cooperation between the two companies, which dates back to 1999, with the Taiwanese supplier having provided rear fuselage structural components for more than 1,000 Challenger 3500 aircraft, it
FOUNDRY DATA: Demand pushed production on some TSMC lines to full utilization, while Samsung’s market share of 5.9 percent dropped, TrendForce said Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) foundry market share edged up to 72.5 percent in the second quarter from 72.3 percent in the previous quarter, propelled by robust artificial intelligence (AI) and smartphone chip revenue, data compiled by market researcher TrendForce Corp (集邦科技) showed yesterday. TSMC’s revenue last quarter grew 12 percent sequentially to US$40.2 billion, outpacing the 11.5 percent average growth among the world’s top 10 foundry companies, the researcher said. Combined revenue of the top 10 is expected to grow further this quarter from US$53.49 billion last quarter, supported by strong demand and price hikes, it said. The increased demand has
Global notebook computer shipments are expected to fall 8 percent year-on-year to 167.9 million units this year, dragged by weak demand, high component prices and supply constraints, the Market Intelligence and Consulting Institute (MIC) said on Tuesday. Next year, shipments are expected to decline by a further 4.7 percent to 160 million units as higher retail prices weigh on consumption, MIC deputy director-general Edward Lin (林柏齊) told a news conference in Taipei. The downtrend is expected to extend into 2028, with replacement demand unlikely to recover before supplies of key components rebound and costs decline, Lin said. Surging demand for artificial intelligence (AI)
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