SMARTPHONES
HTC to back blockchain fund
HTC Corp (宏達電) is to support a US$50 million venture capital fund for a new blockchain start-up, Proof of Capital, with the aim of introducing cryptographic technology to the wider public. HTC chief crypto officer Phil Chen (陳信生), who is in charge of the company’s Exodus blockchain smartphone, said in a statement that the partnership would focus on defining the standards and interactions for the next generation of the Internet, and introducing mobile and hardware expertise to its portfolio companies. The US$50 million fund is being led by Chen; Edith Yeung (楊珮珊), a partner at 500 Startups; and Chris McCann, who founded and led the community program at Greylock Partners in Silicon Valley.
COMMUNICATIONS
UMT net profit surges 110%
Universal Microwave Technology Inc (UMT, 昇達科技), which supplies electronic parts and materials for broadband wireless communications, yesterday reported net profit of NT$71 million (US$2.3 million) for the first quarter of this year, up 110 percent from a year earlier, the highest for the first quarter in the company’s history. Revenue in the first quarter rose 8 percent annually to NT$449 million, or earnings per share of NT$1.1. The company said that shipments for this year are expected to continue growing due to several countries’ continued 5G-related investments and rising demand for millimeter-wave and satellite communication products.
TELECOMS
CHT executive shuffle likely
Chunghwa Telecom Co (CHT, 中華電信) is likely to see a high-ranking executive shuffle soon, as speculation swirls that chairman David Cheng (鄭優) is to retire at the end of June. The company did not deny media reports about Cheng’s retirement, but said that any changes in its operational executives would be made following related rules. CHT president Sheih Chi-mau (謝繼茂) has been picked by the government to succeed Cheng, local media reported. The Ministry of Transportation and Communications holds a 35.29 percent stake in the company.
CEMENT
Work unaffected by quake
Asia Cement Corp (亞泥) said that an earthquake in Hualien County yesterday had no significant effects on the company’s financial and business operations. A magnitude 6.1 earthquake early in the afternoon caused no harm to equipment or personnel at its Hualien plant and quarry, the firm said. The plant’s No. 2 kiln was shut down due to the earthquake, but resumed normal operations at 1:23pm, it said. In related news, Taiwan Land Development Corp (台灣土地開發) said that there were no injuries at its mixed-use New Paradiso (新天堂樂園) complex in Hualien following the earthquake.
ELECTRICITY
Plants unaffected by quake
The Hualien earthquake did not affect the Jinshan Nuclear Power Plant in New Taipei City’s Shihmen District (石門) nor the Guosheng Nuclear Plant in Wanli District (萬里), Taiwan Power Co (台電) said yesterday, after it completed routine inspections. The Ma-anshan Nuclear Power Plant in Pingtung County’s Ma-anshan (馬鞍山) also continued to function normally, as did hydroelectric and coal-fired power plants, the firm said. However, the Ministry of Economic Affairs said that four hydropower firms have stopped supplying electricity to Yilan County’s Longte Industrial Park (龍德工業區). Meanwhile, CPC Corp, Taiwan (台灣中油) reported no accidents at its facilities and instituted preventive measures due to aftershocks.
PATENTS: MediaTek Inc said it would not comment on ongoing legal cases, but does not expect the legal action by Huawei to affect its business operations Smartphone integrated chips designer MediaTek Inc (聯發科) on Friday said that a lawsuit filed by Chinese smartphone brand Huawei Technologies Co (華為) over alleged patent infringements would have little impact on its operations. In an announcement posted on the Taiwan Stock Exchange, MediaTek said that it would not comment on an ongoing legal case. However, the company said that Huawei’s legal action would have little impact on its operations. MediaTek’s statement came after China-based PRIP Research said on Thursday that Huawei filed a lawsuit with a Chinese district court claiming that MediaTek infringed on its patents. The infringement mentioned in the lawsuit likely involved
CHANGE OF FORTUNES: Concern over a pricey valuation and the risk of tighter US curbs on chip sales to China have poured cold water on TSMC’s bullish momentum Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares fell the most in three months yesterday upon trading resumption, joining a global technology rout as investors dramatically soured on the promises of artificial intelligence (AI). The shares declined 5.62 percent to close at NT$924 in Taipei, dragging down the benchmark TAIEX, which fell 3.29 percent to 22,119.21 points amid a technical correction, Taiwan Stock Exchange data showed. Other chip stocks also fell, with ASE Technology Holding Co (日月光投控) plunging 9.86 percent, MediaTek Inc (聯發科) dropping 2.35 percent, Realtek Semiconductor Corp (瑞昱) falling 1.33 percent and United Microelectronics Corp (聯電) retreating 1.17 percent, while Apple
Taipei is today suspending work, classes and its US$2.4 trillion stock market as Typhoon Gaemi approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed income trading, statements from its stock and currency exchanges said. Authorities had yesterday issued a warning that the storm could affect people on land and canceled some ship crossings and domestic flights. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) expects its local chipmaking fabs to maintain normal production, the company said in an e-mailed statement. The main chipmaker for Apple Inc and Nvidia Corp said it has activated routine typhoon alert
GROWTH: TSMC increased its projected revenue growth for this year to more than 25 percent, citing stronger-than-expected demand for AI devices and smartphones The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its forecast for Taiwan’s GDP growth this year from 3.29 percent to 3.85 percent, as exports and private investment recovered faster than it predicted three months ago. The Taipei-based think tank also expects that Taiwan would see a 8.19 percent increase in exports this year, better than the 7.55 percent it projected in April, as US technology giants spent more money on artificial intelligence (AI) infrastructure and development. “There will be more AI servers going forward, but it remains to be seen if the momentum would extend to personal computers, smartphones and