Posts Tagged ‘taiwan’

Former CEO : Wang

New CEO : Jim Wong

Taiwan’s Acer Inc, the world’s no.4 PC vendor, posted a worse-than-expected net loss of T$13.12 billion ($446 million) in the third quarter, with the company aiming to revamp itself with a new CEO and job cuts.

Acer chairman and CEO JT Wang is announcing his resignation from the PC maker today following further disappointing financial results. Wang, an outspoken critic of Microsoft’s Surface tablet, will step down as Acer CEO on January 1st, but will retain his chairman position until the second quarter of 2014 to assist with existing commitments. Acer president Jim Wong will take over as CEO in January in a clear effort to address the struggles the company is facing.

Acer is still the fourth largest PC manufacturer in the world, but the company’s revenues have taken a hit recently as PC sales have slowed across the industry. The company reported a net loss of $446 million in Q3, and it now plans to cut its staff headcount by seven percent globally in an effort to save $100 million in annual operating expenses. While PC sales continue to impact manufacturers, the top three — Lenovo, HP, and Dell — experience small growth in the most recent quarter according to IDC. Acer’s PC sales dropped by nearly 35 percent in Q3, highlighting the problems the company faces to turn its business around.

“Q3’s operating loss was mainly due to the gross margin impact of gearing up for the Windows 8.1 sell-in and the related management of inventory,” the company said in a statement.Acer said there was also an intangible asset impairment loss, which includes trademarks and goodwill, of T$$9.94 billion during the repoting period.Sixteen analysts polled by Thomson Reuters SmartEstimates had forecast a median loss of T$109 million for the quarter. ($1 = 29.4180 Taiwan dollars).


The report alleged the phones were crashing due to faulty memory chips and criticised its repair policies.

Samsung, which generates nearly 14% of its overall revenue from China. said it would provide free repairs for the seven models mentioned in the report.

In a separate development Samsung was also fined by Taiwanese authorities.

Taiwan’s Fair Trade Commission levied a fine of fined 10m Taiwanese dollars ($340,000; £210,000) over allegations that Samsung had paid money to people to criticise rival’s products.

Growing scrutiny
China is the world’s second largest economy and the most populous country,

The combination of a growing economy, rising income levels and a large consumer base has made it a key market for leading global firms.

However, as foreign companies continue to grow their business in China, they have come under increased scrutiny.

Samsung, which is the latest foreign firm to be criticised in the Chinese media, said in statement that it “sincerely apologises” to Chinese consumers for inconveniences caused by the company’s “management problems” and that it welcomed the media scrutiny.

The models mentioned in the China Central Television (CCTV) report on Samsung, which was aired earlier this week, include the Galaxy S3 and the Note2 phones.

Earlier this week, a separate report on CCTV claimed that Starbucks, the world’s largest coffee chain, was charging higher prices in China than in other major markets.

It alleged that Starbucks earned higher margins in China due to its pricing.

In April, Apple’s chief executive Tim Cook apologised to Chinese consumers following two weeks of criticism by state-owned media over its repair and warranty policies,

The media accused the firm of arrogance, greed and of “throwing its weight around”.

Taiwan trouble
The fine in Taiwan came after an inquiry by the Fair Trade Commission alleged that Samsung had hired the services of an advertising firm, OpenTide Taiwan, to help it with online marketing.

Sun Lih-Chyun, vice chairperson and spokesman, told the BBC’s Cindy Sui in Taipei that its investigations had indicated that OpenTide had hired students and bloggers to post remarks about Samsung and also criticise rivals’ products.

He added that OpenTide gave weekly and monthly reports to Samsung, on online remarks, which indicated that Samsung was fully aware of what was going on.

OpenTide was also fined 3m Taiwanese dollars by the commission for its role.

The allegations had first come to light in April this year.

At that time, Samsung had called the incidents “unfortunate” and said they had gone against the company’s “fundamental principles”.In early 2013, Samsung was fined by Taiwanese authorities for an advert that misled consumers about the camera on the Galaxy Y Duo.

Apple has applied for a trademark for “iWatch” in Japan, a patent official said on Monday, signalling the iPhone maker may be moving ahead with plans for a watch-like device as gadget makers turn their attention to wearable computers  ..

The trademark application, submitted on June 3 and released on the Japan Patent Office website on June 27, would cover computers, computer peripherals and wristwatches, the official said. He said it was unknown how long the application process would require ..

An Apple spokesman in Japan could not immediately be reached for comment ..

Speculation has mounted that Apple is preparing to launch an iWatch and CEO Tim Cook told a gathering of tech and media executives a month ago that wearable products were ripe for exploration, but added he was skeptical, including about Google’s recently unveiled Glass which combines a mobile computer and eyeglasses ..

“There’s nothing that’s going to convince a kid who has never worn glasses or a band or a watch to wear one, or at least I haven’t seen it,” Cook said ..

Wearable devices are considered a potential area for hit products as smartphones such as the iPhone and Samsung Electronics’s Galaxy series are losing their ability to impress consumers and investors ..

Samsung, which has leapfrogged Apple as the world’s leading smartphone maker, is also developing a wearable device similar to a wristwatch, a source with knowledge of the matter has said ..

The New York Times reported in February that Apple was experimenting with the design of a device similar to a wristwatch that would operate on the same iOS platform as its iPhone and iPad and would be made with curved glass ..

Following the revelation that Apple had applied for ‘iWatch’ in Japan, it appears that Apple has done so in Mexico, Taiwan, Turkey and Colombia as well ..

On Monday, reports emerged indicating that Cupertino giant had filed a trademark application for the ‘iWatch’ product name in Japan. Filings, spotted by various Internet users and websites, reveal that similar applications have been submitted to Intellectual property bodies in various other countries ..

According to the filing with Mexico’s Institute of Industrial Property, spotted first by 9to5Mac, Apple applied for the iWatch trademark under two categories pertaining to hardware and software of mobile devices. The application was submitted on June 3, though it was made public recently ..

Another filing with Taiwan’s Intellectual Property Office, retrieved first by MacRumors, also reveals the same iWatch trademark with the colour of the device mentioned as Black ..

Besides these, Apple has also filed for the iWatch trademark in Turkey through an attorney on June 3 and in Russia during the same time period. A trademark filing submitted on June 4th in Colombia has also been spotted by a Twitter user ..

It’s interesting to note that all filings also include a graphic with the term iWatch depicted in upper case letters ..

The move signals that Apple is indeed working on a new wearable device and wants to secure the iWatch moniker in markets across the globe, inline with its other devices that have been christened in the same manner ..

Earlier this year, Bloomberg had reported that Apple’s so-called iWatch is expected to release this year and that the project is currently being fueled by the efforts of over 100 engineers being led by Apple design chief Jony Ive himself ..

A recent report by Apple Insider, also mentioned that Apple’s smart watch is likely to debut in 2014, quoting Ming-Chi Kuo, an analyst with KGI Securities who regularly offers predictions on future Apple products ..

Recently, Hon Hai Precision Industry, the company that uses the trade name Foxconn, demonstrated a new smart watch that can be connected with the iPhone. A fews days back, Sony officially launched SmartWatch 2 , the successor to its SmartWatch ..

It’s worth mentioning that companies like Google, Samsung, Microsoft, and LG, are all said to be working on bringing their own smart watch-like devices to the market ..