MANILA -- Filipino electronics exports fell 26% year-over-year in June to $1.95 billion.

The sector makes up 57.1% of the nation's total export revenues. Semiconductors, which account for nearly 40% of all electronic exports from the country, fell 29.1% for the month.

Overall exports dropped 24.7% in June, a glimmer of improvement from the past six months. Over the past six months, the country's monthly exports have fallen 30% to 40%, according to the National Statistics Office.

According to Semiconductor and Electronics Industries of the Philippines chairman Arthur J. Young, Jr., the electronics sector is expected to contract 15% to 20% for the year. However, sequential double-digit growth is expected to return in the third quarter.  

 

PALO ALTO, CA -- Hewlett-Packard denied reports it would partner with Foxconn (Hon Hai) to develop a laptop PC manufacturing hub in Chongqing, China.

The world's largest computer maker said it was collaborating with the Chongqing government, not Foxconn, but declined further details.

Earlier this week, the South China Morning Post had reported the two companies would invest $3 billion in the hub.