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Old 11-10-2005, 05:48 AM   #1
Colin Dunstan
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BenQ's net earnings drop by 99%

It's not that I am usually interested in the financials of a company like BenQ, but the dramatic drop in the company's net profit caught my attention. WSJ reports today that

BenQ's unaudited third-quarter net profit of 20 million New Taiwan dollars (US$606,000), or NT$0.01 a share, was down sharply from NT$1.38 billion, or NT$0.59 a share, a year earlier amid shrinking mobile-phone sales. It was the fifth consecutive quarter of decline in BenQ's earnings. Its handset sales have dropped since a manufacturing contract with Motorola Inc. ended in late 2004.

The horrible results are played down by analysts who argue that BenQ is still a new company and needs more time to shape its reorientation toward handset business. According to BenQ CFO Eric Yu, the company, which generated just 7% of its revenue from mobile-phone sales in the third quarter, expects handset sales to contribute 50% of revenue in the fourth quarter and onward.
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Old 11-10-2005, 10:01 AM   #2
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MSMobiles is spreading the story that Benq has given up their Symbian licenses and will focus exclusively on WM smartphones in the future (+ dumb phones of course) I've been unable to verify this story anywere else. Have you seen anything regarding this story? Certainly if they can do a HTC (which has grown 100% YoY) it would be good, but they did not inspire confidence with their Benq P50.

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Old 11-10-2005, 10:11 AM   #3
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Like most rumors, there's usually just enough grain of truth to them that it makes them easy to believe and impossible to stop entirely. Perhaps Siemens Mobile is planning to sell its stake in Symbian (which is very small to begin with), but I have seen not a single other source referring to the press conference that the former dumped the latter. And trust me, it would have been in the press if it was true...
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