Chunghwa Telecom Co (中華電信) has expanded into Europe for the first time after setting up a subsidiary in Frankfurt on Monday, the company said in a statement on Tuesday.
The subsidiary was launched at a ceremony presided over by the chairman of the European subsidiary, Chia Chung-yung (賈仲雍), and International Business Group president Richard Chen (陳錦洲), and streamed to Taipei via a video link.
In the statement, Chunghwa Telecom said it has sought to expand overseas, having already established subsidiaries in the US, Hong Kong, Japan, Singapore, Thailand and Vietnam, and that it was pleased to have a foothold on a new continent.
Photo: CNA
“Today, with the formal establishment of its European presence, Chunghwa Telecom has completed its international service network across Europe, America and Asia,” the company said.
“This makes it the only telecom operator in Taiwan with overseas branches and the most comprehensive global network deployment,” it said.
Chunghwa Telecom chairman Harrison Kuo (郭水義), who followed the ceremony in Taipei, was quoted in the statement as saying: “Wherever Taiwanese businesses go, Chunghwa Telecom will be there for them.”
The company decided to establish a presence in Germany, because it is one of Europe’s most important economic hubs and has attracted many Taiwanese enterprises, Kuo said.
Some analysts believed that Chunghwa Telecom’s move was related to Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) establishment of an advanced fab in Germany, which broke ground on Tuesday last week.
Analysts said the company would target TSMC’s need for local network infrastructure and information and communications (ICT) solutions. Chunghwa Telecom declined to comment.
Chunghwa Telecom president Ivan Lin (林昭陽) said in the statement that the establishment of the European subsidiary was an important step in the company’s global expansion, and he pledged to work closely with local partners to meet the needs of Taiwanese businesses worldwide.
Chunghwa Telecom said that the EU market and its 27 member states presented many opportunities, and that Germany, as the bloc’s largest economy, serves as a gateway for multinational companies entering the European market.
The company plans to collaborate with European telecoms, Taiwanese businesses and ICT players in Germany, while continuing with collaborative projects with Poland-based Exatel SA, the statement said.
Chunghwa Telecom began working with Exatel, the largest fixed-line telecommunications company in Poland, last year, including launching a high-speed node network interconnection on July 21 last year, the statement said.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
MARKET LEADERSHIP: Investors are flocking to Nvidia, drawn by the company’s long-term fundamntals, dominant position in the AI sector, and pricing and margin power Two years after Nvidia Corp made history by becoming the first chipmaker to achieve a US$1 trillion market capitalization, an even more remarkable milestone is within its grasp: becoming the first company to reach US$4 trillion. After the emergence of China’s DeepSeek (深度求索) sent the stock plunging earlier this year and stoked concerns that outlays on artificial intelligence (AI) infrastructure were set to slow, Nvidia shares have rallied back to a record. The company’s biggest customers remain full steam ahead on spending, much of which is flowing to its computing systems. Microsoft Corp, Meta Platforms Inc, Amazon.com Inc and Alphabet Inc are
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
The US overtaking China as Taiwan’s top export destination could boost industrial development and wage growth, given the US is a high-income economy, an economist said yesterday. However, Taiwan still needs to diversify its export markets due to the unpredictability of US President Donald Trump’s administration, said Chiou Jiunn-rong (邱俊榮), an economics professor at National Central University. Taiwan’s exports soared to a record US$51.74 billion last month, driven by strong demand for artificial intelligence (AI) products and continued orders, with information and communication technology (ICT) and audio/video products leading all sectors. The US reclaimed its position as Taiwan’s top export market, accounting for
RSS