All posts in category Taiwan

Hon Hai Courting New Customers as Apple Competition Swells

Hon Hai (Foxconn) took a hit during the first quarter of this year when sales of Apple’s iPhone dropped off a bit compared to the first and fourth quarters of last year. At the time, it appeared that Hon Hai, a firm that manufacturers Apple’s products, was relying too much on the company. It turns out that’s actually the case and the company recently went on the record stating that it’s trying to court new customers in order to increase its profit margins, especially during slow quarters when Apple isn’t ramping up production of new products.

Todd Haselton from TechnoBuffalo reports that Hon Hai (Foxconn) took a hit during the first quarter of this year when sales of Apple’s iPhone dropped off a bit compared to the first and fourth quarters of last year. At the time, it appeared that Hon Hai, a firm that manufacturers Apple’s products, was relying too much on the company. It turns out that’s actually the case and the company recently went on the record stating that it’s trying to court new customers in order to increase its profit margins, especially during slow quarters when Apple isn’t ramping up production of new products.

Taiwan Lowers 2013 GDP Growth Forecast Despite First Quarter Expansion

Taiwan lowers GDP forecast for this year even after faster-than-expected expansion in the first quarter. (Maurice Tsai/Bloomberg)

Chinmei Sung from Bloomberg reports that Taiwan lowered the economic growth forecast for this year even as it reported a faster expansion in the first quarter than initially estimated.

Gross domestic product rose 1.67 percent in the three months through March from a year earlier, the statistics bureau said in a revised estimate released in Taipei today. Its preliminary report last month was 1.54 percent, while the median in a Bloomberg News survey of 18 economists was 1.5 percent.

Taiwan economy shrinks in second quarter

Reported by Sarah Mishkin in Taipei-Taiwan’s economy shrank slightly in the second quarter, a far worse performance than expected, as falling demand dragged on exports.

The economy contracted 0.16 per cent year on year, according to figures released on Tuesday. Analysts had expected a 0.5 per cent expansion, according to a survey conducted by Bloomberg.

The disappointing data “reflect the slowdown of global demand”, the government’s statistics and budget authority said in a statement. The department also cut its growth estimate for 2012 to 2.1 per cent, from 3 per cent. Last quarter, the economy grew 0.4 per cent year on year.

Taiwan has struggled with limited success to rise above sluggish global growth. Slow sales of PCs and smartphones have been a drag on the economy, which depends on electronics and communications technology for half its exports.

The Asian Century Report

All posts in category Taiwan

Hon Hai Courting New Customers as Apple Competition Swells

Taiwan Lowers 2013 GDP Growth Forecast Despite First Quarter Expansion

Taiwan economy shrinks in second quarter

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