BenQ To Sell Off Assets

Taiwanese electronics manufacturer BenQ announced today that it has lost NT$17.9 billion (about $600 million USD) during the first nine months of 2006, and plans to sell off non-core aspects of its business—including a plant in Jiandong and shares the company holds in Gallant Precision Machining—in an attempt to recover.

BenQ’s consumer electronics business is doing well by most measures: during the third quarter of 2006, the company’s core business did NT$40.7 billion (about $1.2 billion USD) in sales—but that’s excluding sales from it’s “Mobile German” unit, the cell phone business BenQ acquired from Siemens last year, and the source of BenQ’s financial woes. Siemen’s business was losing almost $1.5 million per day and had to pay BenQ a premium to take over the company. BenQ has been pumping money into the operation—over $750 million so far—but was forced to put the unit into bankruptcy last month. This week, the firm laid off about 2,000 workers in Germany, and now is discontinuing cash injections into the unit. BenQ plans to set aside about $355 million to handle expenses from its Mobile German unit—such as accounts payable and compensation to employees—and will then evaluate the impact of the unit’s failure on overall operations.

“Our priority will be to rebuild sales channels and boost customer confidence,” said Eric Ky Yu, BenQ’s senior VP of finance in a statement. By ceasing to fund lasses in the Mobile German subsidiary, “we are looking to lower the company’s debt level over the next few quarters by implementing a proactive debt-repayment plan. With the debt-reduction plan that we’re implementing, including monetization of non-core long-term investments and assets, I am confident we will quickly improve financial ratios, strengthen balance sheet, lower interest expense, and free up additional cash for further growth.”

Mobile

5G your old phone: HTC’s 5G Hub is now available for pre-order from Sprint

HTC almost made a phone. The HTC 5G Hub runs Android 9 Pie, has a Qualcomm 855 processor with the X50 modem, 4GB of RAM, and an HD touchscreen -- but it's a hot spot designed to connect to 5G networks.
Gaming

Get ready to slay spiders and skeletons in real life with Minecraft Earth

Minecraft Earth is the new augmented reality mobile game that uses the Minecraft engine. We have everything you need to know including the release date, features, price, phone compatibility, and more.
Mobile

These 100 best iPhone apps will turn your phone into a jack-of-all-trades

The iPhone is the most popular smartphone in the world, and we want to bring out the best in yours. Behold our comprehensive list of the best iPhone apps, from time-saving productivity tools to fun apps you won’t be able to put down.
Mobile

Grab it as soon as it pops up: The OnePlus 7 Pro is now available for sale

The OnePlus 7 Pro has been revealed, and it's a monster of a phone with a stunning redesign, a pop-up selfie camera, powerful flagship specs, and a price that's hundreds of dollars less than the competition.
Mobile

Mad U.K. retailer slashes 99% off Google Pixel 3a price for a few lucky buyers

The Google Pixel 3 and Pixel 3 XL are considered to be two of the best Android smartphones, but it looks like Google could be prepping a midrange line. Say hello to the Pixel 3a and Pixel 3a XL.
Mobile

How to use recovery mode to fix your Android phone or tablet

If you’re having a problem you can’t seem to resolve with your Android device, or maybe you want to update it or wipe the cache, recovery mode could be what you’re looking for. Here's how to get your Android phone into recovery mode.
Mobile

The Realme X is so cheap and so good that it defies the rules of economics

The Realme X has a 48-megapixel camera, an in-display fingerprint sensor, an AMOLED screen, and a Snapdragon 710 processor, yet it costs from $220. We've tried out the phone to see if it's too good to be true.
Home Theater

Why you can’t buy Car Thing, Spotify’s first hardware device

Spotify created a voice-activated, in-car device that lets you listen to music and podcasts. But Car Thing, as it is known, is not for sale. Instead, it will be used to gather data from a limited set of customers.
Social Media

Be the master of your own Insta-verse with multiple Instagram accounts

Whether you own a small business or have separate Instagram accounts for your five cats, we'll walk you through the process of switching between your multiple accounts on your Apple or Android devices.
Mobile

Can Apple or Samsung steal the OnePlus 7 Pro's flagship killer title?

OnePlus has long been the go-to for flagship specs under a flagship price. But now Apple and Samsung have challengers in the arena, and they want the Flagship Killer crown for themselves. Who wins? We found out.
Deals

Turn your Apple tablet into a laptop with one of these iPad keyboard cases

A keyboard case serves to both protect your iPad and give you a set of laptop keys. You don’t have to shell out tons of cash for a good one, either; if you’re looking for a way to turn your iPad into a 2-in-1 laptop, check these deals…
Mobile

Google Pixel 4 will reportedly ditch physical buttons and display notch

The Google Pixel 4 will reportedly feature massive design changes, including the removal of clickable power and volume keys in favor of capacitive touch areas. The smartphone is also said to be dropping the display notch.
Deals

Here’s one thing you need to do before giving your child a smartphone or tablet

Monitoring your kids' digital habits can be a challenge in today’s high-tech age, but great parental control software like Qustodio gives parents a much-needed advantage. Learn how you can protect your child from online dangers.
Emerging Tech

Experts warn 5G could interfere with weather forecasts, reducing accuracy by 30%

Experts and officials have warned that interference from 5G wireless radios could seriously compromise the ability to forecast weather, including the prediction of extreme weather events like hurricanes.