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Foxconn factory sale; Sony's share buyback program; Tencent, Nintendo deal


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Foxconn factory sale; Sony's share buyback program; Tencent, Nintendo deal


* Foxconn Technology Group Co. Ltd., formally known as Hon Hai Precision Industry Co. Ltd., is looking to sell its US$8.8 billion liquid crystal display factory due to decreased demand caused by the U.S.-China trade conflicts, Reuters reported. The Taiwanese company is set to appoint banks that would look for buyers for the facility being set up in Guangzhou, China. However, Foxconn is yet to arrive at an expected price for the Gen-10.5 facility.

* Sony Corp. has repurchased ¥4.25 billion of common stock throughout July under its ongoing buyback program announced in May. The Japanese consumer electronics and entertainment giant bought back a total of 718,300 shares from July 1 to July 31 through open market purchases in the Tokyo Stock Exchange. The company has so far repurchased 5,464,400 shares for a total purchase price of ¥29.57 billion under its plan to repurchase ¥200 billion worth of its common stock from May 17 to March 31, 2020.

* Nintendo Co. Ltd. has partnered with Tencent Holdings Ltd. to launch Nintendo Switch in China, Reuters reported. Tencent will reportedly localize Switch games to suit the Chinese market and a server will be set up through Tencent's cloud service.


* Rakuten Inc. injected US$100 million in U.S.-based cancer biotechnology company Rakuten Medical Inc. in a series C-1 funding round, increasing the stake in the company to 22.6%. With the additional investment, Rakuten Medical will become an equity-method affiliate of Rakuten in the third quarter.

* In other Rakuten news, the Japanese company is set to extend the partnership with the U.S. National Basketball Association Inc.'s Golden State Warriors as the current three-year deal is in the final season, Bloomberg News reported.


* LG U+ has set up a process to improve 5G network design and quality monitoring, ZDNet Korea reported. The company developed an app for 5G service quality monitoring and a solution for antenna angle measurement.

* LG Electronics Inc. is set to launch its new budget smartphone, the LG X2, for 198,000 won on Aug. 9, E Daily reported. The new model comes with a 5.45-inch full vision display, a 3,000 mAh battery and 32GB storage.


* NetEase Inc. reached a partnership with U.K.-based The Creative Assembly Ltd. to publish the game series, Total War, in China, Technode reported. The partnership covers the entire catalog of the series with the card game Total War: Elysium on PC and mobile devices.

* In other NetEase news, the company will invest 5 billion yuan to build an esports industrial park in Shanghai, Jiemian reported. This will house facilities for product development, talent building and hosting professional competitions.

* Intel Corp. and Baidu Inc. have renewed a three-year agreement to collaborate on cloud, artificial intelligence, autonomous driving, 5G and edge technologies, Sina reported.


* The Supreme Court of India has allotted Reserve Bank of India six weeks to file a response on whether WhatsApp Inc. had complied with data localization norms, with the messenger set to launch a payments service in the country, Reuters reported.

* The Confederation of Indian Industry has urged the government to lower the base price for 5G spectrum, The Economic Times (India) reported, citing PTI. The association believes that the high price of such radiowaves will stop accelerated progress of the sector and prevent the adoption of telecom services by the masses.

* In other WhatsApp news, the company has introduced its "frequently forwarded" feature for messages in India, Mint reported. The feature is an attempt by the Facebook Inc.-owned messaging service to curb the spread of fake news through the platform.


* Thai telco TrueMove H has tested a 5G video call in a cross-border exchange with Chinese telco Huawei, Manager reported. A TrueMove H executive team staged a real-time, 5G video call in HD quality with Huawei staff based in Chengdu, according to the report. True Corp. is the parent of TrueMove H.

* Indonesian operator PT Telekomunikasi Selular, trading as Telkomsel, and state-owned bank PT Bank Negara Indonesia (Persero) Tbk have launched a co-branded credit card, Liputan6 reported.


* Singtel Optus Pty. Ltd. has rolled out its Digital Thumbprint roadshow, a free in-school program that looks at encouraging youngsters to be safe, responsible and positive online, Telecompaper reported. Creating strong passwords, activating privacy settings on social media and illustrating how easily things can spread when shared on the internet are some aspects of the program.


Data Dispatch: Countries divided on Huawei as US policy develops: The Trump administration has tried to pressure governments around the world to adopt its tough stance on telecoms equipment maker Huawei, with mixed results.

Data Dispatch: Apple staunching sales declines in China just as trade war heats up: Analysts are working to figure out how to think about Apple Inc.'s future in China during a week that included better-than-feared results in the region from the iPhone-maker followed by a new tariff announcement from the White House.

Data Dispatch: As Chinese tech IPO market stalls, investors seek other exit strategies: Tech companies seeking IPOs in Greater China are better to hold their plans for a more optimal timing instead of rushing for cash-out, while early-stage investors can consider other methods to exit, such as M&A, experts said.


Economics of Networks: HBO reigns atop the premium network ratings throne in Q2: With a huge assist from the final season of "Game of Thrones," HBO claimed the Nielsen ratings crown for premium networks during the second quarter.


Bharti Airtel reports loss due to shift to 4G, Africa IPO: The Indian telco's average revenue per user increased for the second consecutive quarter but overall takings were hit by the switch from 3G to 4G.

Nozomi Ibayashi, Myungran Ha, Emily Lai, Ed Eduard and Patrick Tibke contributed to this report. The Daily Dose has an editorial deadline of 7 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.