Arab Today, arab today taiwans acer sees profits tumble announces reshuffle
Last Updated : GMT 21:26:48
Arab Today, arab today
Arab Today, arab today

Taiwan's Acer sees profits tumble, announces reshuffle

Arab Today, arab today

Arab Today, arab today Taiwan's Acer sees profits tumble, announces reshuffle

Visitors walk past the Acer booth during the Computex trade show in Taipei
Taipei - AFP

Taiwan's struggling personal computer maker Acer saw its 2015 earnings plunge by two-thirds as it announced a corporate reshuffle that separates off its new businesses, including cloud services and smart devices.

Full-year net profit came in at Tw$603.7 million ($18.5 million), down 66 percent from a year earlier, while revenue fell 20 percent to Tw$263.78 billion, the company said on Thursday.

Acer revealed in a separate statement that it would form a holding company to manage its new businesses from Friday, which it said would help speed up the "overall company transformation".

"The new structure will address the diverse development needs of IT hardware products versus cloud services, smart devices and e-businesses," Acer said.

It did not give any detail as to whether the reshuffle would mean job losses and the company was not immediately contactable Friday.
Acer -- once the world's second largest PC maker -- has struggled as demand tapered and competition increased from the likes of Apple.

Analysts say the hiving off of its new businesses will pave the way for any future sale of the company's divisions.

"By establishing an investment holding company, Acer will likely sell off or introduce new shareholders to any subsidiary company under the holding structure," Fubon analysts said in a note.

Analysts also say the reshuffle may be part of a succession plan by founder Stan Shih, who returned from retirement for a short stint to salvage the company after it sunk into deep losses.

His son Maverick Shih was appointed Thursday to co-head Acer's build-your-own-cloud (BYOC) service and smart device division.

Still, Fubon says a turnaround for Acer is not happening any time soon as outlook for its core business of selling hardware continues to be bleak.

"None of this affects our negative view on the company's future, given the end of the PC and slowing smartphone growth, and the lack of any significant server business for Acer," it said.

The worldwide PC market contracted 10.4 percent in unit volume in 2015, the worst performance on record, according to market intelligence provider International Data Corporation (IDC).

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today taiwans acer sees profits tumble announces reshuffle Arab Today, arab today taiwans acer sees profits tumble announces reshuffle

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today taiwans acer sees profits tumble announces reshuffle Arab Today, arab today taiwans acer sees profits tumble announces reshuffle

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday