globetronics in expansion mode
The group\'s chief executive, Heng Huck Lee, said the group is currently in talks with two potential partners in the ASEAN region to acquire a major stake in its electronic medical device manufacturing company.
Manufacturing of electronic medical devices is declining
According to Heng, the business generates sustainable profits.
\"We will explore the manufacture of original equipment (OEM)
Serve and develop our own brand of medical devices.
\"The group will be able to leverage its expertise in electronic manufacturing to expand in the electronic medical device business.
He told StarBizWeek that \"developing bio and wellness wearable smart device sensors for US customers is also in line with the group\'s recent business direction . \".
According to Heng, these sensors enable the device to check the pulse, body temperature, blood glucose indication and sweating conditions and provide true
Doctor\'s time data
\"We are starting production --
The sensor will be delivered from July.
Hengju Millennium Research Group (MRG)
The global medical technology market intelligence agency predicts that the global medical device outsourcing market will grow to more than $12 (RM38. 5bil)by 2018.
\"Due to factors such as the ongoing debt crisis in Europe and the US implementation of the consumption tax on medical devices, there is growing budgetary pressure on medical device brand owners in many countries, the report said.
\"So we can expect a surge in demand from medical device outsourcing and contract manufacturers as the brand owner\'s goal is to reduce production costs, especially for highvolume and low-
Heng said: \"Margin equipment.
According to Technavio UK
The global outsourcing market for medical device business services is expected to grow by nearly 12% at a compound annual growth rate of 2013-2018 period.
\"The industry is highly fragmented as thousands of companies compete for market share.
\"Some of the key factors driving market growth are advances in healthcare technology and growth in the medical device market at home and abroad,\" the report notes . \".
In other areas of the group\'s business, Heng said the group will add a new highlight --LEDs (LED)
The production line will begin production for one of the world\'s four leading lighting manufacturers in September.
\"This product is a new LED module for general indoor lighting,\" he said . \"
For globetronics\'s crystal timing equipment business, the group has just added a new production line to produce products for Japanese customers serving the global market.
\"We now have a total of 8 production lines producing 8 types of crystal timing equipment with a monthly output of about 0. 15 billion units,\" he said . \".
This year, the group has allocated RM55mil and RM60mil for these new business activities.
\"We expect 2014 in the second quarter to be better than 2014 in the first quarter and the same period in the previous year,\" he added . \".
In the first quarter ended March 31, 2014, net profit for global communications was 14 yuan.
The income is 1 million yuan. 42mil.
\"The new range of Crystal timing equipment, LED lighting products and sensor products will enable the group to hit a new record high in terms of revenue and profits.
\"The income of these three departments accounts for about 90% of the group\'s income . \"
He added that the group will explore more opportunities in investment development and manufacturing.
Edge sensors for mobile and wearable smart products.
At the same time, Wu Kefeng, founder and executive chairman of globalization, pointed out that in today\'s rapid technological advances, it will be foolish for anyone to try to predict and prepare for the future in 50 years, it is also a complete waste of time.
\"The best thing anyone of us can try to do is to frantically try to keep the status quo and stay relevant for the next five years instead of 50.
\"This is what we have been doing.
Each year, the group is developing strategies and plans for the business roadmap for the next five years.
\"Looking forward to the next five years, we believe that our group\'s growth area should be products and components that support smartphones, medical electronics tablets, wireless networks, wearable wireless products and the internet of things.
\"Our group has maintained the status and relevance of these technological advances and has been an active and innovative solution provider for our world-renowned customers, they are the future market before competitors, he said.
According to Gartner, Connecticut
The research-based global economy shows signs of a gradual recovery, with global IT spending growing at $3.
8 trillion in 2014, I 3.
Expenditure increased by 2% per cent over 2013.
\"On a global scale, businesses are getting rid of the slump and restarting IT spending to support their business growth.
\"Consumers will buy many new devices in 2014.
However, alternatives to low-cost and more basic devices are larger than we \'ve seen in previous years, \"noted Richard Gordon, managing vice president of Gartner.
Equipment Market (
Including PCs, superphones, phones and tablets)
Growth is expected to resume in 2014, with global spending at $4. 689bil.
Smart devices and smart mobile electronics are up 4% from 2013.
Heng said that in the second half of 2014, the group had received sensor orders from EU and US customers.
\"We look forward to these new
A generation of sensors to help the group achieve another record
\"Its income and bottom line have broken for a year,\" Evergrande said . \".
An example of a wearable smart device, Heng said, is smart glasses, which allows users to access the Internet and perform most of their mobile phone functions, the group is currently in the product development phase of designing bio and health wearable smart device sensors for US customers.