Taiwan's Acer higher on revenue guidance
Acer Inc (2353.TW) shares were higher after the computer vendor said it expects its revenue in 2008 to surpass 20 bln usd before climbing to 30-40 bln usd by 2012.
At 11.07 am, Acer was up 0.70 twd or 1.04 pct at 68.10, after trading in a range of 67.90 and 69.90, on volume of 17.28 mln shares.
The electronics subindex was up 0.63 pct at 365.12 points.
The weighted index was up 66.46 points or 0.76 pct at 8,760.87, having traded in the 8,753.01-8,804.93 range.
Turnover was 61.41 bln twd.
The company said that its signing of a sponsorship deal with the International Olympic Committee to be a ""worldwide partner"" of the Olympic Games will help boost its sales.
Acer has entered into ""The Olympic Partner Programme"" for the Vancouver Winter Olympics in 2010 and the London 2012 Summer Games.
""The revenue estimates look achievable given the company's organic growth and contribution from Gateway Inc,"" said an analyst at a domestic securities investment consulting firm who tracks the computer industry.
Acer acquired Gateway in October.
The analyst said his projection for Acer is for 480 bln twd of consolidated sales this year, increasing to 640 bln next year.
""My estimate for the company this year does not take into account Gateway, while the US firm's possible contribution is included for next year, "" he said.
While Acer's participation in ""The Olympic Partner Programme"" for the Vancouver Winter Olympics in 2010 and the London 2012 Summer Games can help create brand awareness, the magnitude of the benefits to its value and corporate image is yet to be seen, the analyst said.
""Acer already stands around third place in the global market, its brand should be no novelty,"" he added.
The Olympic Games deal could be a signal that Acer is committed to defending its position in the industry against close rival Lenovo, which is ranked as the fourth brand, the analyst said.
Lenovo said previously that it would stop paying to be a global Olympics sponsor after the Summer Games in Beijing next year
Acer Inc (2353.TW) shares were higher after the computer vendor said it expects its revenue in 2008 to surpass 20 bln usd before climbing to 30-40 bln usd by 2012.
At 11.07 am, Acer was up 0.70 twd or 1.04 pct at 68.10, after trading in a range of 67.90 and 69.90, on volume of 17.28 mln shares.
The electronics subindex was up 0.63 pct at 365.12 points.
The weighted index was up 66.46 points or 0.76 pct at 8,760.87, having traded in the 8,753.01-8,804.93 range.
Turnover was 61.41 bln twd.
The company said that its signing of a sponsorship deal with the International Olympic Committee to be a ""worldwide partner"" of the Olympic Games will help boost its sales.
Acer has entered into ""The Olympic Partner Programme"" for the Vancouver Winter Olympics in 2010 and the London 2012 Summer Games.
""The revenue estimates look achievable given the company's organic growth and contribution from Gateway Inc,"" said an analyst at a domestic securities investment consulting firm who tracks the computer industry.
Acer acquired Gateway in October.
The analyst said his projection for Acer is for 480 bln twd of consolidated sales this year, increasing to 640 bln next year.
""My estimate for the company this year does not take into account Gateway, while the US firm's possible contribution is included for next year, "" he said.
While Acer's participation in ""The Olympic Partner Programme"" for the Vancouver Winter Olympics in 2010 and the London 2012 Summer Games can help create brand awareness, the magnitude of the benefits to its value and corporate image is yet to be seen, the analyst said.
""Acer already stands around third place in the global market, its brand should be no novelty,"" he added.
The Olympic Games deal could be a signal that Acer is committed to defending its position in the industry against close rival Lenovo, which is ranked as the fourth brand, the analyst said.
Lenovo said previously that it would stop paying to be a global Olympics sponsor after the Summer Games in Beijing next year
