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☆ Meet the African Artists Driving a Cultural Renaissance
  + stars: | 2023-11-16 | by ( Abdi Latif Dahir | Charlie Brinkhurst-Cuff | Desiree Ibekwe | ) www.nytimes.com   time to read: +5 min
Omar Victor Diop History, inheritance and possibility are re-imagined through the lens of the Senegalese photographer, one of the most successful young artists on the continent. Through his bold images, Diop examines the interplay between African and diasporic experiences by knitting together the past and present. Douglass sat for over 160 portraits, including a daguerreotype circa 1855 (bottom), to challenge negative representations of African Americans. Cultural Archive/Alamy In a 2015 self-portrait (top), from Diop’s series “Project Diaspora,” the artist emulates Frederick Douglass, who was the most photographed man of his era. Douglass sat for over 160 portraits, including a daguerreotype circa 1855 (bottom), to challenge negative representations of African Americans.
Persons: Omar Victor Diop, Frederick Douglass, Diop, Selma, ”, ” Omar Victor Diop, Douglass, “, ” Diop, Mama Casset, Malick Sidibé, Samuel Fosso, Martin Luther King Jr Organizations: paisley, West Locations: Senegalese, American, United States, Soweto, South Africa, Africa, “, African American, Dakar, Paris, Nigeria, Senegal, France, Nairobi, Lagos, Mali, America, African
☆ IMF says central bank digital currencies can replace cash: 'This is not the time to turn back'
  + stars: | 2023-11-15 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +2 min
SINGAPORE — Central bank digital currencies have the potential to replace cash, but adoption could take time, said Kristalina Georgieva, managing director of the International Monetary Fund on Wednesday. "CBDCs can replace cash which is costly to distribute in island economies," she said Wednesday at the Singapore FinTech Festival. CBDCs are the digital form of a country's fiat currency, which are regulated by the country's central bank. They are powered by blockchain technology, allowing central banks to channel government payments directly to households. Several central banks have already launched pilots or even issued a CBDC," the IMF said in a September report.
Persons: Kristalina Georgieva Organizations: International Monetary Fund, IMF, Singapore FinTech, Bank for International, Atlantic Council Locations: SINGAPORE — Central, Singapore
☆ Apple supplier Foxconn posts surprise 11% jump in third-quarter profit
  + stars: | 2023-11-14 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +3 min
Ceng Shou Yi | Nurphoto | Getty ImagesApple iPhone supplier Foxconn, officially known as Hon Hai, on Tuesday reported third-quarter profit rose 11.27% from a year ago, beating analysts' expectations despite an ongoing consumer electronics slump. Foxconn reported a NT$38.75 billion net profit in the same period a year ago. watch now"Volumes declined year-on-year largely due to slower than expected recovery in consumer demand. Research firm Canalys said last week that the global smartphone market is seeing a slowdown in its decline. The ongoing electronics slump has badly impacted the global smartphone market.
Persons: Hai Group's, Ceng Shou Yi, Hai, Foxconn, Canalys, Amber Liu, Liu Organizations: Getty, Apple, Hai Technology Group, Counterpoint Research, Research, Huawei Locations: Taipei, Taiwan, Mainland China
☆ China's largest chipmaker SMIC posts a 80% drop in third-quarter profit
  + stars: | 2023-11-10 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +2 min
BEIJING, CHINA - DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images)China's largest chipmaker SMIC on Thursday posted a 80% drop in third-quarter profit as global demand weakness hit foundries hard. Net income for the quarter plunged 80% compared to a year ago — larger than the 64% drop posted in second quarter 2019, according to company figures. Net income for that period was $93.98 million, far below analysts' expectations of $165.1 million. SMIC is China's biggest foundry, manufacturing semiconductor chips that other firms design.
Organizations: Semiconductor Manufacturing International Corporation, Getty, Semiconductor Manufacturing, Co, Samsung, TSMC Locations: BEIJING, CHINA, Beijing, China, South, U.S
☆ Chinese fast fashion retailer Temu overtakes Shein to dominate Japan and South Korea apps
  + stars: | 2023-11-10 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +5 min
Similarly, in South Korea, Temu ranked No. Among the top shopping apps in South Korea, Temu was the fastest to reach 2 million downloads at around 88 days. Shein took 382 days while AliExpress took 366 days to hit the same milestone. Shein sued Temu in December over intellectual-property infringement while Temu accused Shein in July of threatening and forcing manufacturers into exclusivity agreements. Temu made its foray into Asia through Japan and South Korea in July.
Persons: Nikos Pekiaridis, Shein, Temu, Goldman Sachs, Mercari, Alibaba, AliExpress, Bernstein Organizations: Getty, Nurphoto, PDD Holdings, CNBC, iOS, Google, Nasdaq, Holdings, Citi, U.S, Committee Locations: Japan, South Korea, China, U.S, Australia, New Zealand, France, Italy, Germany, Netherlands, Spain, Boston , Massachusetts, Asia, Philippines, Malaysia
☆ The world's two largest memory chipmakers signal demand weakness may have bottomed out
  + stars: | 2023-11-07 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
The recent earnings calls of the world's two largest memory chipmakers signaled that weak demand may have finally bottomed out. This followed a 85.15% drop in first quarter operating profit from the previous quarter and a small 4.68% improvement in second-quarter operating profit from the first quarter. Such memory chips are found in consumer devices such as laptops and smartphones. During the pandemic, companies stockpiled memory chips to meet record electronics demand, but were left with excess inventory when that pressure eased. Inflation has caused consumers to rein in spending and cut back on purchases of consumer devices, driving down demand and prices for memory chips.
Persons: James Lim, Lim, Samsung Organizations: SK Hynix, Dalton Investments, CNBC, South, U.S, Micron
☆ Huawei, Tencent among top cybersecurity patent holders as China fosters own tech, report says
  + stars: | 2023-11-06 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
Chinese companies have gained ground in global patent holdings in the cybersecurity technology sector amid growing U.S.-China tensions, according to a report from Nikkei Asia on Sunday. Chinese firms such as Huawei and Tencent accounted for six of the top 10 global patent holdings in the cybersecurity technology sector as of August, based on data compiled by Nikkei in cooperation with U.S. information services provider LexisNexis. The report said that U.S. computer manufacturer IBM came out top with 6,363 patents followed by Huawei and Tencent with 5,735 and 4,803 patents respectively. Among the top 10 include Alibaba's financial arm Ant Group in sixth place with 3,922 patents, as well as Alibaba Group Holding with 3,122 patents, the Nikkei said. This comes as escalating tensions between the U.S. and China have pushed the latter and its homegrown firms to seek self-reliance in science and technology.
Organizations: Nikkei Asia, Huawei, Nikkei, LexisNexis, IBM, China Investment Corp, U.S Locations: China, U.S, Beijing
☆ Hong Kong's IPO market is still in a slump despite an expected rebound
  + stars: | 2023-11-06 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +4 min
Hong Kong Street Scene, Mongkok District with busses Nikada | E+ | Getty ImagesHong Kong's initial public listing market remains in a slump, even as analysts predicted a market rebound in the second half of the year. "The Hong Kong market has not recovered as much as we would like," Irene Chu, partner at KPMG China, told CNBC. In the first three quarters of the year, the Hong Kong IPO market concluded 44 listings, and raised 24.6 billion Hong Kong dollars ($3.14 billion), according to KPMG. Hong Kong's stock market was among the worst performing last year, shedding 15% in 2022 for its third-straight year of declines. "The Hong Kong stock market remained weak in Q3 2023, as did stock valuations, because of macroeconomic developments, in particular around U.S. interest rate hikes.
Persons: Irene Chu, Hong, Ringo Choi, EY, Zhejiang Leapmotor, Arun George, It's, Chu Organizations: Hong, KPMG China, CNBC, Hong Kong, KPMG, Hang Seng, J, T Express, Reuters, Deloitte, Hong Kong's, ZJLD, Onewo, Global Equity Research, International Monetary Fund Locations: Hong, Mongkok District, Hong Kong, Ringo Choi Asia, Pacific, Asia, Indonesian, Zhejiang, China, Shanghai, Shenzhen, KPMG China, —
☆ Southeast Asia's digital economy – from e-commerce to online media – is set to hit $218 billion in 2023, report shows
  + stars: | 2023-11-01 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +4 min
The yearly report analyzed the five main sectors of Southeast Asia's digital economy – e-commerce, travel, food and transport, online media and digital financial services. The report also revealed revenue in Southeast Asia's digital economy is expected to hit $100 billion this year, growing 1.7 times as fast as the region's total transaction value. "Southeast Asia's digital economy is really in the midst of an unprecedented pivot towards profitability. Despite investors being pickier, "dry powder" increased to $15.7 billion at the end of 2022, up from $12.4 billion in 2021. "This shows that there is fuel available to propel Southeast Asia's digital economy to the next stage of growth," the report said.
Persons: Carlina, Hoong, Chadha, Fock, CNBC's JP Ong Organizations: Google, Temasek, Bain & Company, Companies Locations: Asia, Southeast, Southeast Asia, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Brunei, Cambodia, Laos, Myanmar, East Timor, Papua New Guinea
☆ Samsung expects memory chip demand to improve, as operating profit beats expectations
  + stars: | 2023-10-31 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +3 min
First quarter operating profit plummeted 85.15% from the fourth quarter of 2022, while second-quarter operating profit saw only 4.68% improvement from the first quarter. Here are Samsung's third-quarter results versus estimates:Revenue: 67.4 trillion Korean won (about $50 billion), vs. 67.8 trillion Korean won expected by analysts polled by LSEG. 67.4 trillion Korean won (about $50 billion), vs. 67.8 trillion Korean won expected by analysts polled by LSEG. Operating profit: 2.43 trillion Korean won, vs. 2.3 trillion Korean won expected by LSEG analysts. Earlier this month, Samsung estimated third-quarter revenue would be 67 trillion Korean won and operating profit to be 2.4 trillion won.
Persons: Ying Tang, Samsung, Goldman Sachs Organizations: Samsung, Getty Images, Samsung Electronics, LSEG, Korean Locations: Shanghai, China
☆ Stream These 10 Movies Before They Leave Netflix in November
  + stars: | 2023-10-30 | by ( Jason Bailey | ) www.nytimes.com   time to read: +3 min
☆ WTO chief warns Israel-Hamas war could hurt global growth if conflict spills over
  + stars: | 2023-10-30 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
World Trade Organization Director-General Ngozi Okonjo-Iweala opens the 2021 WTO Public Forum with a round table on Covid and trade, in Geneva, on September 28, 2021. (Photo by Fabrice COFFRINI / AFP) (Photo by FABRICE COFFRINI/AFP via Getty Images)The World Trade Organization's director-general warned that the ongoing Israel-Hamas conflict will impact global growth if it spills over to the wider Middle East region. In an interview with CNBC aired on Monday, Ngozi Okonjo-Iweala said: "If it spreads beyond where it is now, to the rest of the Middle East, there will be an impact." So you will see an impact on global growth, on global trade," she added. We're praying for de-escalation and peace," she told CNBC's Martin Soong on the sidelines of the Group of 7 meeting in Osaka, Japan.
Persons: Ngozi Okonjo, Iweala, Fabrice COFFRINI, FABRICE COFFRINI, Ngozi, CNBC's Martin Soong Organizations: Trade Organization, Getty, Trade, CNBC Locations: Geneva, AFP, Israel, Osaka, Japan
☆ Gebisa Ejeta honored by President Biden with prestigious National Medal of Science
  + stars: | 2023-10-27 | by ( Samantha Bresnahan | ) edition.cnn.com   time to read: +2 min
CNN —Earlier this week, Ethiopian Gebisa Ejeta joined an elite group of scientists when he was honored by US President Joe Biden in a ceremony at the White House. Ejeta, along with eight others, was awarded the National Medal of Science on Tuesday, the highest scientific honor in the nation. Born and raised in rural west-central Ethiopia, Ejeta has dedicated his life’s work to food science – specifically the study of sorghum, a gluten-free ancient grain. He was a 2009 recipient of the World Food Prize for his work with drought- and parasite-resistant hybrid strains. Gebisa Ejeta, distinguished professor of plant breeding & genetics and international agriculture at Purdue University, has dedicated his life's work to studying sorghum.
Persons: Ejeta, Joe Biden, “, ”, Mung Chiang, Gebisa Ejeta, Thomas Campbell, Biden Organizations: CNN, White, Purdue University, “, Purdue University Agricultural, Purdue Locations: Ethiopia, United States, Gebisa, Africa, Asia
☆ Shares of Tencent-backed J&T Express fall in lackluster Hong Kong debut
  + stars: | 2023-10-27 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion ($500 million) IPO is the second largest listing in Hong Kong this year, after premium Chinese liquor company ZJLD Group . J&T Express is listing in an uncertain economic environment, characterized by hiking inflation, high interest rates and ongoing conflict such as the Israel-Hamas war and Ukraine invasion. Hong Kong's global IPO ranking dropped to eighth following a historically slow third quarter," said KPMG in a report published on Oct. 9. "The IPO pricing is dropping significantly by more than 50% or even 70%."
Persons: Irene Chu, Ringo Choi Organizations: T Express, Hong, HK, ZJLD Group, KKR, SF Express, Temasek, T, KPMG, KPMG China, CNBC, Reuters . Companies Locations: Hong Kong, U.S, Sequoia, Israel, Ukraine, Asia, Pacific
☆ TSMC, Alibaba and more: Goldman reveals AI stocks in its 'conviction list' — giving one 105% upside
  + stars: | 2023-10-26 | by ( Amala Balakrishner | ) www.cnbc.com   time to read: +3 min
Here are some of the other stocks in Goldman's conviction list. Aside from TSMC, Goldman's conviction list stocks in this category include Chinese tech giant Hon Hai Precision Industry and Japanese electronics manufacturing company Ibiden . AI-empowered names The bank's conviction list stocks in this category include Chinese machine industry player Envicool , Japanese video game publisher Bandai Namco Entertainment and industrial equipment company Keyence . Goldman has an 83,000 yen price target on Keyence, giving it an upside of 56.7%. Stocks that are both Goldman named Chinese tech giants Alibaba and Baidu as its conviction list stocks that are both in the business of enabling and empowering AI.
Persons: Goldman Sachs, Daiki Takayama, TSMC, Goldman, Hai —, Envicool, Alibaba, — CNBC's Michael Bloom, Sheila Chiang Organizations: Taiwanese Semiconductor Manufacturing Company, New, Companies, Precision Industry, Bandai Namco Entertainment, Bandai Namco, Baidu, Alibaba Locations: Asia, New Taiwan
☆ BMW says diversifying risks does not mean it is leaving China
  + stars: | 2023-10-26 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
WUHAN, CHINA - MAY 25: (CHINA OUT) Attendees wear protective masks as they look around the at BMW Ix3 during 2023 Central China International Auto Show on May 25, 2023 in Wuhan, Hubei province, China. More than 80 brands took part in the 2023 Central China International Auto Show which started on Thursday. (Photo by Getty Images)German automaker BMW Group said that diversifying its supply chains away from China does not mean it is leaving the country completely. "Especially the BMW Vision Neue Klasse, it will not be a small volume. BMW is not leaving China, he said, adding that free trade is "fundamental to our business model."
Persons: Oliver Zipse, CNBC's Martin Soong, Annalena Baerbock Organizations: BMW Ix3, China International, Getty Images, BMW Group, BMW, Neue, Japan, Neue Klasse, Tesla Locations: WUHAN, CHINA, Wuhan, Hubei province, China, Germany
☆ Bitcoin crosses $34,000 to the highest since May 2022 on ETF hopes
  + stars: | 2023-10-24 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
The price of bitcoin breached the $34,000 level to hit its highest since May last year, bolstered by positive sentiment about a bitcoin exchange-traded fund. Ether , the second-biggest digital coin, surged to its highest since August, according to Coin Metrics data. Anticipation of a bitcoin ETF grew after the court ruled in favor of crypto-focused asset manager Grayscale over the U.S. Securities and Exchange Commission in its bid to turn its huge Grayscale Bitcoin Trust (GBTC) bitcoin fund into an ETF. A bitcoin ETF would give investors a way to gain exposure to bitcoin's price movements without owning the cryptocurrency directly. Bitcoin is considered a highly volatile asset, and its price fluctuations are unpredictable.
Persons: Ryan Rasmussen, Rasmussen, Bitcoin Organizations: Metrics, Bitwise Asset Management, U.S . Securities, Exchange Commission, SEC
☆ Apple supplier Foxconn says it will cooperate with Chinese authorities on tax, land use investigations
  + stars: | 2023-10-23 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
Apple supplier Foxconn, officially known as Hon Hai , said it will cooperate with Chinese authorities on investigations, following a report that officials are conducting tax audit inspections and reviewing land use of Foxconn subsidiaries. State media Global Times reported on Sunday, citing unnamed sources, that multiple offices of Hon Hai's subsidiaries across China had been subjected to tax audits and on-site investigations into land use. Hon Hai Technology Group is the world's largest contract electronics manufacturer. "Legal compliance everywhere we operate around the world is a fundamental principle of Hon Hai Technology Group (Foxconn). Hon Hai's Taipei-listed shares fell 3.29% in early Monday morning trade.
Persons: Hai, Hai's Organizations: Foxconn, Global Times, Hai Technology Locations: China, Hai's Taipei
☆ PC demand is back, says Acer CEO who sees robust growth in the 'foreseeable future'
  + stars: | 2023-10-20 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +2 min
"We have seen the demand reach the bottom during about the May timeframe this year and ever since that, the demand has come back. For Q3, we have already seen year-to-year growth," chairman and CEO Jason Chen told CNBC's Emily Tan. Acer is the world's fifth-largest player in the PC market with a 6.4% market share, according to Canalys. But the boom in PC sales came to an end, when global PC shipments declined sharply in the first quarter of 2022. "PCs today, together with the display business, monitor business, is contributing about two-thirds of our business.
Persons: Jason Chen, Emily Tan, Chen Organizations: Lenovo, HP, Dell, Apple, Acer Locations: Taiwan, China, Southeast Asia, Japan, Korea, India
☆ Chinese EV stocks tank after Tesla earnings disappoint
  + stars: | 2023-10-19 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
(Photo by VCG/VCG via Getty Images)Shares of Chinese EV-makers were battered on Thursday after Tesla reported disappointing third-quarter results on Wednesday where the company missed estimates. It was the first time Tesla, co-founded by Elon Musk, missed on both earnings and revenue since second-quarter 2019. On Thursday morning, Hong Kong-listed shares of Chinese EV makers BYD and Xpeng fell 2.18% and 8.76% respectively. Musk said the company is working to bring down the prices of its cars amid high interest rates, but it is as challenging as "Game of Thrones, but pennies." "I'm worried about the high interest rate environment we're in," he said, adding that it will be much harder for consumers to purchase cars if interest rates were to increase further.
Persons: Tesla, Elon Musk, Li Auto, Geely, Musk Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Getty, Elon Locations: SHANGHAI, CHINA, Shanghai, China, Hong Kong, Xpeng
☆ TSMC beats revenue and profit expectations for third quarter
  + stars: | 2023-10-19 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
Taiwan Semiconductor Manufacturing Company reported a third-quarter profit of 211 billion New Taiwan dollars ($6.69 billion) on Thursday as weak demand for consumer electronics persists. While that was the second straight quarter of profit declines, the world's largest contract chipmaker bested analyst expectations. That compares with TSMC's guidance for third-quarter revenue between $16.7 billion and $17.5 billion. The chip giant said that revenue increased 13.7% in the third quarter as compared to the second quarter. In the second quarter, the Taiwanese firm reported a decline in quarterly profit for the first time in four years due to a post-pandemic plunge in the demand for consumer electronics like smartphones and laptops.
Persons: chipmaker Organizations: Taiwan Semiconductor Manufacturing Company Locations: Taiwan
☆ Fed-up employees might threaten to quit if changes aren't made to their job, but 'thruitting' often does more harm than good
  + stars: | 2023-10-19 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
siraanamwong/Getty ImagesYou're fed up with your job and are finally going to let your manager know it: "Fix this, or I'm leaving." In a bid to keep up with the never-ending stream of workplace trends, let's call this one "thruitting." AdvertisementAdvertisementFor your bookmarksFree tax filing programUS Treasury Secretary Janet Yellen has said tax filing should be simple. SAUL LOEB/AFP via Getty ImagesSee if you're eligible for the IRS' new, free tax filing pilot in 13 states. It's part of the department's attempt to make tax filing simpler and more cost-effective.
Persons: Marc Andreessen, Chris Williams, Williams, simplehappyart, Today's, Siu, It's, SCOTT MORGAN, Charlie Munger, Warren Buffett's, Everyone's, Jeffrey Gundlach, Jensen Huang, Young Liu, Chiang Ying, Marc Andreessen's, Elon Musk, Musk, Arantza Pena Popo, Dolly, Janet Yellen, SAUL LOEB, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Tech, Microsoft, Treasury, Barclays, Baron Partners Fund, Nvidia, University of Pennsylvania, America, Blackstone, Getty, IRS Locations: Israel, Cincinnati , Ohio, New York City, San Diego, London, New York
☆ Baidu's newest AI model Ernie 4.0 fails to wow investors, but analysts maintain 'buy' ratings
  + stars: | 2023-10-18 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
ZHEJIANG, CHINA - MARCH 16 2023: A view of the logo of ERNIE Bot, an AI chatbot service developed by Chinese search engine Baidu, March 16, 2023. Analysts are bullish on Chinese tech giant Baidu's latest version of its generative artificial intelligence model, Ernie 4.0, but investors did not react positively to the development. "We came away positively following the announcement of several new products including the official debut of Ernie 4.0," said Citi analysts in a report, after Baidu announced a "significantly improved" version of Ernie 4.0 on Tuesday. The Chinese tech giant claimed Ernie 4.0′s capabilities are on par with those of ChatGPT maker OpenAI's GPT-4 model. "It has been significantly improved compared to the online version of Ernie bot and now it is not inferior to GPT-4," Li told an audience of analysts, investors and journalists.
Persons: ERNIE Bot, Ernie, Robin Li, Li, Jefferies, OpenAI's, Ernie bot Organizations: Baidu, Citi Locations: ZHEJIANG, CHINA
☆ Taiwan’s Foxconn to build ‘AI factories’ with Nvidia
  + stars: | 2023-10-18 | by ( Eric Cheung | ) edition.cnn.com   time to read: +5 min
Taipei CNN —Taiwan’s Foxconn says it plans to build artificial intelligence (AI) data factories with technology from American chip giant Nvidia, as the electronics maker ramps up efforts to become a major global player in electric car manufacturing. Foxconn Chairman Young Liu and Nvidia CEO Jensen Huang jointly announced the plans on Wednesday in Taipei. The duo said the new facilities using Nvidia’s chips and software will enable Foxconn to better utilize AI in its electric vehicles (EV). Nearly 14 million electric cars will be sold in 2023, it projected. REUTERS/Ann Wang Ann Wang/ReutersDuring last year’s tech day, Liu told reporters that the company hoped to build 5% of the world’s electric cars by 2025.
Persons: Taipei CNN — Taiwan’s Foxconn, Young Liu, Jensen Huang, ” Huang, “, ” Liu, Foxconn, ”, Kylie Huang, Ann Wang Ann Wang, Liu, Chiang Shang, TSMC, Jun Seki, Bill Russo, Automobility, Tesla, ‘ I’m, ’, ” Hanna Ziady Organizations: Taipei CNN, Nvidia, Foxconn, Global, International Energy Agency, Hai Technology Group, Daiwa, Tech, REUTERS, Reuters, Lordstown Motors, General Motors, EV, Nissan Motor, Infineon Technologies Locations: Taipei, Taiwan, Kaohsiung, EVs, Ohio, Chiang, German, Shanghai
☆ Apple supplier Foxconn says it's 'way too late' to chase dominance in cutting-edge chips
  + stars: | 2023-10-18 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +5 min
watch nowApple iPhone supplier Foxconn , officially known as Hon Hai, said its semiconductor strategy is to focus on producing "specialty chips" — not competing in cutting-edge chips. We focus more on specialty technology," Chiang Shang-Yi, chief strategy officer for semiconductor at Hon Hai Technology Group, told CNBC's Emily Tan on Tuesday. Specialty chips are known as semiconductors found in sectors such as automotive and internet of things. And we call it specialty technology – that is not late at all," said Chiang. Chiang Shang-Yi Chief strategy officer for semiconductor"Sometimes we may have to build their cars by their drawings.
Persons: Hai, Chiang Shang, Yi, Emily Tan, Taiwan's, Chiang, Jun Seki, Hai's, Foxconn, Foxtron, – Tesla, Volkswagen –, Young Liu, Liu Organizations: Apple, Hai Technology Group, Samsung, Hai Technology, Yulon, Reuters, CNBC, Volkswagen, Research, Vedanta Locations: South, Foxconn, China, Europe, U.S, India, Karnataka, Beijing, Washington
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