Displaying items by tag: Electronics
Taiwanese electronic colossus Foxconn has now admitted that it is currently reassessing its plans to invest in a new $10bn factory in Wisconsin.
When first announced it was hailed as a significant win for US President Donald Trump who had promised rust-belt states that he would breathe new life into the manufacturing sector and create millions of jobs.
However, that deal now may be dead in the water due to the ongoing dispute between Beijing and Washington that is becoming increasingly toxic.
Foxconn manufactures devices and components for a host of the world’s leading technology leaders including Apple, and had previously unveiled its plans to build the $10 billion plant to make LCD flat screen televisions which would also in turn create around 13,000 new jobs.
The investment was vetoed by $4bn in controversial tax concessions which were embraced by Trump who said the deal was another illustration of his campaign promise which was to put America ‘first’ again. Trump has also tried to strong arm other tech giants like Apple offering them tax breaks if they move manufacturing back to the United States.
Trump appeared with Foxconn CEO Terry Gou at a groundbreaking ceremony proclaiming and stated that, "This is just the beginning. This is one of the largest plants in the world."
However, the global economic climate roiled by Trump's trade war with China where Foxconn has most of its assembly lines -- has led officials at the Taiwanese company to look again at the plans.
"The global market environment that existed when the project was first announced has changed. As our plans are driven by those of our customers, this has necessitated the adjustment of plans for all projects, including Wisconsin," Foxconn said in a statement Thursday.
However, Foxconn has moved swiftly to deny it’s pulling out of the proposed investment and released an official statement saying it is remained committed to building its science park in Wisconsin and wants to help create 13,000 jobs".
Woo told Bloomberg, "We’re not scrapping our plans at all. However, given the global economic conditions and the trade tensions between China and the US, its’ impossible to say that we can always stay committed to our original plan without any change."
Finnish telecommunications vendor Nokia has announced that it has signed a lucrative patent license agreement with Chinese consumer electronics behemoth OPPO.
OPPO, which is headquartered in Guangdong, is globally renowned for its innovative smartphones and was voted as the top smartphone manufacturer in China in 2016.
It has been disclosed that under the agreement, OPPO will make payments to Nokia for a multi-year license period. However, the terms of the agreement made between the two entities will remain confidential between the parties.
Nokia Chief Legal Officer and President of Nokia Technologies, Maria Varsellona, expressed her delight at the deal with the Chinese smartphone firm and said it further illustrated the benefits its global licensing program offers partners.
"OPPO is one of the leaders in the smartphone industry and we are pleased to welcome them as a Nokia licensee. This agreement further validates our global licensing program."
Chinese electronics manufacturer Xiaomi have finally ended months of speculation by officially announcing its intentions to launch in Pakistan with analysts suggesting that this move represents the firm’s ambition to restart its global expansion.
The Chinese gadget manufacturer has expanded at a pedestrian since its 2011 debut in China. Xiaomi, which is headquartered in Beijing – focused initially on Southeast Asia, India and parts of the Middle East and Brazil – and its proposed entry into Pakistan is the company’s largest since that move to South America in 2015.
The declaration from Xiaomi finally ends months of official denials from the firm – Pakistan is the world’s sixth most populous country in the world, and represents a potentially lucrative market for the Chinese smartphone maker.
Like its introduction to Brazil, Xiaomi will enter Pakistan through a distribution partnership – with Rocket Internet’s e-commerce marketplace Daraz which is present in locations such as Pakistan, Bangladesh, Myanmar and Sri Lanka.
Jack Yung, Sales director for Xiaomi, in South Asia, disclosed that three models will be introduced to the market on an initial basis – coupled with plans to make its budget Redmi Note 4 and Redmi 4A also available.
Chinese smartphones have had a presence in Pakistan for a number of years - brands such as Huawei and Oppo have enjoyed success in the region. Part of their marketing strategy was to use celebrities and sporting personalities to push their products, while also embarking on extensive billboard advertising and primetime spots on national television.
Analysts feel Xiaomi could find it difficult to penetrate the market in Pakistan, its introduction will be met with a wave of publicity and fanfare – but with its insistence on selling exclusively online it may find it hard to carve out a space for itself. In Pakistan, most shopping is done offline; some estimates of the e-commerce sector vary between US$40 million and US$50 million. So, unless Xiaomi decides to change tact and place its phones and gadgets in retail outlets, then it may face challenges.
Pakistan is adding one million 3G/4G connections every month, and smartphone imports increased by a whopping 124% in the first quarter of 2015, according to data provided by the IDC. However, still large parts of the country’s vast population remains off line, so there is a large demand for cheap, sturdy, 3G phones in the marketplace.