What’s the latest on Tiger Electronics’ IPO?
Posted March 01, 2019 10:02:23At a time when Chinese companies are under pressure to show they’re taking the country’s electronics industry seriously, Tiger Electronics Corp. has unveiled plans to spin off its chip design division and add a second chip design.
The Taiwanese chipmaker’s shares closed up more than 3 percent in Taipei on Wednesday, after closing at around 3.7 percent a day earlier.
The company, which is backed by the China Securities Regulatory Commission, says it plans to make the chip design unit a separate entity, and it is also working to expand its research and development footprint, said the company in a statement.
Tiger Electronics is one of the world’s biggest chip makers, and its chips are used in several smartphone and tablet devices.
The firm has been expanding its manufacturing and research capabilities, including building the first production plant in Taiwan.
In September, it said it was considering a sale of its chip manufacturing business.