Taiwan's BenQ attributes Q4 sales drop to halt of handset shipments to Europe |
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Published
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Tue, 20 Mar 2007 09:09
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TAIPEI (XFN-ASIA) - BenQ Corp (2352.TW) said its sales fell in the fourth quarter to December from the previous quarter mainly due to a halt in shipments of mobile handsets from its plants in China to Europe.The shipment halt followed BenQ's decision in September 2006 not to invest any further in its German mobile handset unit. That decision, in effect, marked the company's acknowledgement that its takeover of Siemens AG's handset operations in October 2005 was a failure.The company announced today that consolidated sales fell to 34.60 bln twd in the fourth quarter from 40.67 bln in the preceding three months.The Siemens acquisition had continuing fallout in the final quarter of 2006 as BenQ recorded another net loss of 7.89 bln twd for the three months, after a loss of 12.22 bln in the third quarter.In the three months to December BenQ posted a non-operating loss of 6.72 bln twd, but marking an improvement from a loss of 12.00 bln posted in the previous quarter.The non-operating loss in the fourth quarter was mainly due to the mobile business' worldwide warranty costs, it said.In today's trade, BenQ closed down 0.90 twd at 13.65.(1 usd = 33.10 twd)philip.wang@afxasia.compw/km
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European telecom operators receive 10,000 3G handsets per month by BenQ 