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Daily News

Philips to Expand in Taiwan
Feb 14, 2003
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Dutch electronics company Philips said it is upsizing its Taiwan operations by expanding its knowledge-intensive projects, "marrying" desirable business partners, and recruiting hundreds of technology personnel this year. This year, Philips said it would establish its optical storage headquarters on the island, and expand its Taiwan connections by allying with local players BenQ and Accton Technology.

Philips would inject U.S. $20 million in the optical storage company that it would form with BenQ. The joint venture, which becomes operational next month, would likely employ 300 people.

In the first half of 2003, Philips and Accton Technology would merge their respective wireless connectivity module activities into a new joint venture company. The new company was expected to employ more than 200 people, with annual revenues of $200-$250 million. The 50-50 joint venture would develop applications such as streaming music and video, multimedia messaging, and voice over IP in broadband environments such as homes, open spaces, and public areas. (Taiwan News)

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