Taiwans Top-3 Bike Makers Saw Revenues Drop
TAIPEI, Taiwan - Despite all the buzz at the Taipei Cycle Show earlier this month about Taiwans bike boom; Giant, Merida and Ideal suffered revenue decreases in the first two months of this year. Giant reported a 19.55% revenue drop from its Taiwan plant. Giant's consolidated revenue (including overseas operations) during the period, however, was up 3.33%. Merida saw its Taiwan operation drop 2.58% in revenue and Ideal Bike Corp. reported a first-two-month down in revenue of 6.91%. However, all three are optimistic about the whole-year business results.