Thursday, January 2, 2003
Acer Inc. aiming to become one of the top five brands in the China's PC market. Presently, the top five PC brands in the mainland are Legend, Founder, IBM, Hewlett-Packard, and TCL.
Stan Shih, chairman of Acer Group, said that the group's revenue from the Greater China region would grow over 50% this year and will reach NT$25 billion. Acer has now set up only 10 branches and will set up new sales outlets in both Nanjing and Tianjin. More local employees will be added to increase the localization of its deployment in the China.
Meanwhile, Acer Corporation announced that it would acquire software provider Acer Twp Corporation through a share swap. Acer's move came after completing a restructuring plan that split the group into three divisions namely Acer Corp., brand-name computer maker; Wistron Corp., an electronics manufacturing arm; and BenQ Corp., Taiwan's largest flat panel maker and an electronics peripheral equipment manufacturer.
To complete the share swap, every 1.58 shares of Acer Twp stock will be exchanged for one share of Acer Corp. stock, according to the two companies. Acer Twp will become a software arm fully owned by Acer, which already owns a 38.6 percent stake in Acer Twp at present. The local software vendor predicted a respectable 20 percent growth in revenues next year along with a jump in net profits to NT$100 million from some NT$25 million this year because of the positive impact of the merger. Acer Twp predicted its revenues to surpass its previous forecast of NT$1.91 billion to reach NT$2.5 billion this year. It set revised after-tax profits at NT$25 million.
By: DocMemory
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