BYD Kicking the Bucket?

choi

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Joanne Chiu and Kate O'Keeffe, Buffett-Backed China Venture Falters. Wall Street Journal, June 30, 2011.
http://online.wsj.com/article/SB10001424052702304450604576415082507001662.html

Quote:

"China car and battery maker BYD Co. said its first-quarter profit fell 84% from a year earlier, dragged lower by weaker sales * * * its profit for the three months ended March 31 fell to 266.7 million yuan (US$41.2 million) from 1.7 billion yuan a year earlier.

"Shenzhen-based BYD has tumbled more than 70% since hitting a record high closing of HK$85.50 in October 2009

My comment: Mr Buffett may meet his waterloo in BYD, his first and only venture in high-tech (OK, leaving battery aside for the moment, car making is still technology--without the high--something Mr Buffett avoids).



-----------------------------Separately
(1) SMIC

(a) Mark Lee, SMIC Chairman Dies, CEO Wang Voted Off Board, Stock Suspended from Trading. Bloomberg, June 30, 2011 (9 hours ago)
("Shareholders rejected CEO David Wang’s reappointment as a board director and the company requested its shares be suspended from trading in Hong Kong pending the release of “price- sensitive” information, the Shanghai-based chipmaker said in statements today. Yesterday, it said Chairman Jiang Shang Zhou died June 27, without providing a cause of death")
(b) Melanie Lee, UPDATE 4-SMIC CEO ousted from board, management shakeup likely. Reuters, June 30, 2011 (4 hours ago)
(""It seems unlikely to me that David would want to remain CEO if he can't also be a director so I imagine there is probably a big management shake-up going on right now," said Steven Pelayo, Regional Head of technology research at HSBC in Hong Kong")

My comment: There4 is noneed to read the rest, as information at present is sketchy.  

(2) Jason Dean, H-P Unveils China Initiative.  Wall Street Journal, June 30, 2011
http://online.wsj.com/article/SB10001424052702303763404576415571053067278.html
("Part of the decline in H-P's PC market share stemmed from a consumer backlash last year over a technical glitch in some of its computers caused by a faulty graphics chip supplied by Nvidia Corp. Todd Bradley, who heads the personal systems group, said H-P had learned from the experience and improved its customer service in the country")

Note:
Adam Shah, HP Still Getting Heat on Nvidia Graphics Chips. IDG News,
http://www.pcworld.com/businesscenter/article/163918/hp_still_getting_heat_on_nvidia_graphics_chips.html
("Nvidia last July said that some of its graphics chips were overheating due to packaging material and the thermal design of some laptops [as opposed to the chips themselves]. HP subsequently issued an advisory warning of possible laptop failure and a list of models affected by the Nvidia parts")

(3) Fuad Abazovic, Kepler 28nm taped out. Fudzilla, June 29, 2011.
http://www.fudzilla.com/graphics/item/23247-kepler-28nm-taped-out

My comment:
(a) TSMC is world's only fab that makes 28nm chips (Intel (starting 2009) and GlobalFoundries (starting recently with faulty yield) are capable of 32nm). Furthermore in view of Nvidia's partnership with TSMC, I'd say TSMC fabricates Kepler.
(b) Johannes Kepler
http://en.wikipedia.org/wiki/Johannes_Kepler
(1571-1630; German)


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