TW Biz News｜WK 09/22 - 09/28

Every week, we'll select Taiwan's five business news from the previous week for your review.

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• 〔Taiwan News〕Taiwan's MediaTek expects new chip to boost market share to 40%

TAIPEI (Taiwan News) — MediaTek released its 5G flagship chip, Dimensity 9500, on Monday, calling it a leap in performance with lower power consumption to support its push for a 40% share of the global smartphone market. Analysts predict that soon four out of every ten mobile phone users worldwide will use MediaTek chips. The company’s main rival in the Android market is Qualcomm, which covers about 72% of all phones, though MediaTek has recently made major gains among Chinese brands, per UDN.

• 〔Taiwan News〕Taiwan showcases AI tech at German trade fair

TAIPEI (Taiwan News) — More than 120 Taiwanese companies opened their booths at EMO Hannover on Monday, with industry leaders highlighting AI-driven manufacturing and supply chain strength. The trade show, billed as the world’s largest of its kind, marks its 50th edition with the theme “Innovative Manufacturing,” per CNA. This year’s focus includes AI, automation, and carbon-reduction solutions, drawing exhibitors and buyers from around the globe.

• 〔Taiwan News〕Taiwan retail sales increase 0.4% in August

TAIPEI (Taiwan News) — The Ministry of Economic Affairs announced on Wednesday that retail sales for August reached NT$391.5 billion (US$12.85 billion), a 0.4% year-on-year increase. This ended four consecutive months of year-on-year declines. However, it was not enough to overcome the downturn earlier in the year as retail sales data from January to August totaled NT$3.1454 trillion, a 0.7% year-on-year decrease, per UDN.

• 〔Focus Taiwan〕Bolt enters Taiwan ride-hailing market, partners with 3 local fleets

Taipei, Sept. 24 (CNA) European ride-hailing brand Bolt has launched service in an East Asian market for the first time, working through partnerships with Hi Taxi, Sinfu Car and Nice Taxi to get a foothold in Taiwan. The company will put its app in the cars of the three companies and follow a strategy it said will focus on drivers rather than subsidies.

• 〔Focus Taiwan〕Taiwan's economy stays stable due to strong tech sector

Taipei, Sept. 26 (CNA) Taiwan's economy remained stable in August as the high-tech sector continued to get a boost from growing global demand for emerging technologies such as artificial intelligence applications, the National Development Council (NDC) said Friday. The composite index of economic indicators, which gauges the state of the economy, rose one point from a month earlier to 30 and continued to flash a "green" light in August, data released by the NDC showed. It was the fourth consecutive month in which Taiwan's economy flashed a green light.