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Barry
Joined: 12 May 2004
Posts: 1473
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 Posted: Sat Aug 26, 2006 6:50 pm Post subject: BenQ Mobile to get Investment Boost |
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BenQ will spend an additional $400 million on its handset business BenQ Mobile—which ranks just below the world’s top five handset vendors—while spinning off other non-mobile businesses to strengthen the handset brand. The electronics firm has been making LCD monitors for Dell Inc. and Hewlett-Packard Co. and televisions for Sanyo.
The company’s forward-looking strategies were packaged along with its poor financial results for the second quarter. BenQ posted its third straight quarterly loss and forecast flat sales and shipments in the third quarter, now half over. BenQ posted a net loss of $76.5 million for the second quarter, versus a net profit of $14.6 million in the year-ago quarter. In the second quarter BenQ’s handset division shipped 7.3 million units, according to Strategy Analytics. BenQ derives half its annual revenue from BenQ Mobile.
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