DOCSLIB.ORG

Feasibility Study on Innovation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Feasibility Study on Innovation Feasibility study on the microeconomic impact of enforcement of competition policies on innovation Final report Competition EUROPEAN COMMISSION Directorate-General for Competition E-mail: [email protected] European Commission B-1049 Brussels [Catalogue number] [Catalogue Feasibility study on the microeconomic impact of enforcement of competition policies on innovation Final report Authors: Peter Ormosi, Anna Rita Bennato, Steve Davies and Franco Mariuzzo Europe Direct is a service to help you find answers to your questions about the European Union. Freephone number (*): 00 800 6 7 8 9 10 11 (*) The information given is free, as are most calls (though some operators, phone boxes or hotels may charge you). LEGAL NOTICE This document has been prepared for the European Commission; however, it reflects the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the information contained therein. More information on the European Union is available on the Internet (http://www.europa.eu). Luxembourg: Publications Office of the European Union, 2017 Catalogue number: KD-04-17-860-EN-N ISBN 978-92-79-73841-8 doi: 10.2763/770377 © European Union, 2017 Reproduction is authorised provided the source is acknowledged. Final report Table of Contents Table of Contents ............................................................................................. 1 Table of Tables ................................................................................................ 4 Table of Figures ............................................................................................... 5 1 Executive summary .................................................................................... 6 1.1 Review of existing literature ................................................................... 6 1.2 Findings of the pilot study...................................................................... 8 1.3 Methodological lessons .......................................................................... 8 1.3.1 R&D expenditure ............................................................................ 9 1.3.2 Patents ......................................................................................... 9 1.3.3 Product characteristics .................................................................. 11 1.3.4 General ....................................................................................... 12 2 Introduction ............................................................................................ 13 3 Literature review ...................................................................................... 15 3.1 Introduction ...................................................................................... 15 3.2 Measuring Innovation ......................................................................... 16 3.2.1 R&D expenditure .......................................................................... 16 3.2.2 Patent counts .............................................................................. 17 3.2.3 Product quality/performance .......................................................... 19 3.3 Identifying innovative industries ........................................................... 19 3.4 Competition and innovation ................................................................. 20 3.5 Competition policy and innovation ........................................................ 21 3.5.1 Features which may justify special treatment from CAs ...................... 21 3.5.2 Areas of Competition Policy ............................................................ 23 3.5.3 Competition Policy and Innovation: Specific Cases ............................ 26 3.6 Summary .......................................................................................... 29 4 The Hard Disk Drive and Solid State Drive markets ....................................... 30 4.1.1 The storage market ...................................................................... 30 4.1.2 Hard Disk Drives vs Solid State Drives ............................................. 31 4.1.3 Market structure in HDD ................................................................ 32 4.1.4 Market structure in SSD ................................................................ 33 4.1.5 Cloud storage .............................................................................. 34 5 Regulatory approval of the mergers ............................................................ 35 5.1 European Commission decision in the Seagate/Samsung merger ............... 35 5.2 Other decisions in the Seagate/Samsung merger .................................... 36 5.3 European Commission decision in the Western Digital/Hitachi merger ........ 37 1 Feasibility study on the microeconomic impact of enforcement of competition policies on innovation 5.4 Other decisions in the Western Digital / Hitachi merger ............................ 37 5.5 Testable hypotheses ........................................................................... 38 6 The impact of the mergers on R&D intensity ................................................. 43 6.1 Data and main variables ...................................................................... 43 6.2 Finding adequate Control groups .......................................................... 47 6.2.1 Using rival firms as control ............................................................ 47 6.2.2 Selected storage firms as Control ................................................... 48 6.2.3 Large sample IT firms as control ..................................................... 49 6.2.4 A weighted sample of IT firms ........................................................ 49 6.2.5 Synthetic control .......................................................................... 50 6.3 Estimating the impact of the mergers .................................................... 51 6.3.1 Descriptive analysis ...................................................................... 51 6.3.2 Difference-in-differences estimates ................................................. 54 6.3.3 Assumptions required for unbiased results ....................................... 56 6.3.4 Robustness checks ....................................................................... 58 7 The impact of the mergers on patent activity ................................................ 61 7.1 Data and main variables ...................................................................... 61 7.2 Constructing the dependent variable ..................................................... 65 7.2.1 Patent counts and citations ............................................................ 65 7.2.2 Constructing a patent indicator ....................................................... 65 7.3 Finding suitable Control groups ............................................................ 66 7.3.1 Other firms with HDD patents ........................................................ 66 7.3.2 NAND Flash patents ...................................................................... 68 7.4 Estimating the impact of the mergers on firms’ patenting activity .............. 69 7.4.1 Difference-in-differences estimates ................................................. 69 7.4.2 Assumptions ................................................................................ 72 7.4.3 Robustness checks ....................................................................... 74 8 The impact of the mergers on product characteristics .................................... 75 8.1 Data and main variables ...................................................................... 75 8.2 Finding suitable Control groups ............................................................ 79 8.3 Estimating the impact of the mergers on product characteristics ............... 81 8.3.1 Descriptive analysis ...................................................................... 81 8.3.2 Difference-in-differences estimates ................................................. 83 8.3.3 Assumptions required for unbiased DiD ........................................... 86 8.3.4 Robustness checks ....................................................................... 86 9 Interpretation of the pilot study .................................................................. 87 10 Conclusion ........................................................................................... 90 10.1 Methodological variety ........................................................................ 90 2 Final report 10.2 Main methodological lessons ................................................................ 91 11 References ........................................................................................... 94 12 Appendix to the literature review ........................................................... 102 12.1 Screening for innovative industries ..................................................... 102 R&D ..................................................................................................... 102 Patents ................................................................................................. 103 12.2 Summary of other papers in the academic literature .............................. 105 13 Extra material for pilot study ................................................................. 120 13.1 Extra material for the R&D section ...................................................... 120
Load more

Recommended publications
  • Transcend Information, Inc. and Subsidiaries Consolidated Financial Statements And
    TRANSCEND INFORMATION, INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS’ REVIEW REPORT JUNE 30, 2020 AND 2019 ------------------------------------------------------------------------------------------------------------------------------------ For the convenience of readers and for information purpose only, the auditors’ report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. In the event of any discrepancy between the English version and the original Chinese version or any differences in the interpretation of the two versions, the Chinese-language auditors’ report and financial statements shall prevail. ~1~ TRANSCEND INFORMATION, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Expressed in thousands of New Taiwan Dollars) (The consolidated balance sheets as of June 30, 2020 and 2019 are reviewed, not audited) June 30, 2020 December 31, 2019 June 30, 2019 Assets Notes AMOUNT % AMOUNT % AMOUNT % Current assets Cash and cash equivalents 6(1) $ 1,987,626 9 $ 1,233,407 6 $ 1,246,352 5 Financial assets at fair value through 6(2) profit or loss - current 2,225,342 10 2,581,509 12 1,164,332 5 Current financial assets at amortised 6(3) cost, net 7,051,329 32 7,910,482 37 10,805,014 48 Notes receivable, net 6(4) 524 - 3,054 - 3,246 - Accounts receivable, net 6(4) 1,315,397 6 1,478,531 7 1,739,440 8 Accounts receivable due from 7 related parties, net 6 - 8 - - - Other receivables 103,600 1 124,077 1 106,004
    [Show full text]
  • 4U60 Storage Enclosure Site Requirements Document
    Site Requirements Document 4U60 Storage Enclosure G460-J-12 November 2015 1ET0164 Revision 1.1 Long Live Data ™ | www.hgst.com Site Requirements Document Copyright Copyright The following paragraph does not apply to the United Kingdom or any country where such provisions are inconsistent with local law: HGST a Western Digital company PROVIDES THIS PUBLICATION "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some states do not allow disclaimer or express or implied warranties in certain transactions, therefore, this statement may not apply to you. This publication could include technical inaccuracies or typographical errors. Changes are periodically made to the information herein; these changes will be incorporated in new editions of the publication. HGST may make improvements or changes in any products or programs described in this publication at any time. It is possible that this publication may contain reference to, or information about, HGST products (machines and programs), programming, or services that are not announced in your country. Such references or information must not be construed to mean that HGST intends to announce such HGST products, programming, or services in your country. Technical information about this product is available by contacting your local HGST representative or on the Internet at: support.hgst.com HGST may have patents or pending patent applications covering subject matter in this document. The furnishing of this document does not give you any license to these patents. © 2015 HGST, Inc. All rights reserved. HGST, a Western Digital company 3403 Yerba Buena Road San Jose, CA 95135 Produced in the United States Long Live Data™ is a trademark of HGST, Inc.
    [Show full text]
  • Redacted Public Version 28
    Case3:11-cv-04689-WHO Document250 Filed06/11/14 Page1 of 109 MICHAEL S. ELKIN (admitted pro hac vice) 1 [email protected] THOMAS P. LANE (admitted pro hac vice) 2 [email protected] WINSTON & STRAWN LLP 3 200 Park Avenue New York, NY 10166-4193 4 Telephone: 212.294.6700 Facsimile: 212.294.4700 5 ERIN R. RANAHAN (No. 235286) 6 [email protected] DREW A. ROBERTSON (No. 266317) 7 [email protected] WINSTON & STRAWN LLP 8 333 S. Grand Avenue, Suite 3800 Los Angeles, CA 90071-1543 9 Telephone: 213.615.1700 Facsimile: 213.615.1750 10 DANIEL B. ASIMOW (No. 165661) 11 [email protected] ROBERT D. HALLMAN (No. 239949) 12 [email protected] ARNOLD & PORTER LLP 13 Three Embarcadero Center, 10th Floor San Francisco, CA 94111-4024 14 Telephone: 415.471.3100 Facsimile: 415.471.3400 15 Attorneys for Plaintiff 16 PNY TECHNOLOGIES, INC. 17 UNITED STATES DISTRICT COURT 18 NORTHERN DISTRICT OF CALIFORNIA 19 SAN FRANCISCO DIVISION 20 21 PNY TECHNOLOGIES, INC., Case No.: 11-cv-04689 WHO 22 Plaintiff, THIRD AMENDED COMPLAINT FOR 23 ANTITRUST VIOLATIONS; v. DECLARATORY RELIEF; AND 24 UNFAIR COMPETITION SANDISK CORPORATION, 25 DEMAND FOR JURY TRIAL Defendant. 26 27 REDACTED PUBLIC VERSION 28 PNY’S THIRD AMENDED COMPLAINT 11-cv-04689-WHO LA:355215.1 Case3:11-cv-04689-WHO Document250 Filed06/11/14 Page2 of 109 1 Plaintiff PNY Technologies, Inc. (“PNY”), by and through its attorneys, Winston & Strawn 2 LLP and Arnold & Porter LLP, files this Third Amended Complaint against Defendant SanDisk 3 Corporation (“SanDisk”) to secure damages, declaratory relief and injunctive relief, and demanding 4 trial by jury, claims and alleges as follows: 5 NATURE OF ACTION 6 1.
    [Show full text]
  • Perfect Devices: the Amazing Endurance of Hard Disk Drives Giora J
    T TarnoTek Perfect Devices: The Amazing Endurance of Hard Disk Drives Giora J. Tarnopolsky TARNOTEK & INSIC - Information Storage Industry Consortium www.tarnotek.com [email protected] www.insic.org 2004 - Mass Storage Systems & Technologies Outline z Perfect Inventions z Hard Disk Drives & other consumer products z Hard Disk Drives: Developments 1990 - 2004 z Marketplace z How the technology advances have affected the product offerings z Technology z How market opportunities propelled basic research forward z Disk Drives at the Boundaries z INSIC and Data Storage Systems Research z Closing Remarks: Hard Disk Drive Endurance Giora J. Tarnopolsky HDD - Perfect Devices © 2002-2004\14 April 2004\2 TARNOTEK 2004 - Mass Storage Systems & Technologies PERFECT INVENTIONS Giora J. Tarnopolsky HDD - Perfect Devices © 2002-2004\14 April 2004\3 TARNOTEK 2004 - Mass Storage Systems & Technologies Nearly Perfect Inventions z Certain inventions are created “perfect:” their operation relies on a fundamental principle that cannot be improved, or does not merit improvement z This assures their endurance … z … and defines their domain of development, the limits of applicability of the invention z Examples of perfect inventions are the bicycle, the umbrella, the book, and the disk drive Giora J. Tarnopolsky HDD - Perfect Devices © 2002-2004\14 April 2004\4 TARNOTEK 2004 - Mass Storage Systems & Technologies Bicycle z Gyroscope effect assures stability of the rider z Under torque T, the bike turns but does not fall z Low ratio of vehicle mass to rider mass z ~ 15 % (as compared to ~2,200% for car) z Efficient r T z Rugged r dL z Mass-produced r dt L z Affordable Giora J.
    [Show full text]
  • Product Test Report
    PCIe 2280 M.2 SSD MTE652T2 Datasheet Products Product Description TS512GMTE652T2 M.2 2280, PCIe Gen3x4, M-Key, 3D TLC, PE: 3K, 4CH, 30u” TS256GMTE652T2 TS128GMTE652T2 Datasheet version 1.1 No.70, Xingzhong Rd., Neihu Dist.,Taipei City 114, Taiwan, R.O.C. Tel:+886-2-2792-8000 Fax:+886-2-2792-1614 www.transcend-info.com Copyright© Transcend Information, Inc. All Rights Reserved. 1 Revision History Revision No. History Released Date Editor by 1.0 First version (WD BICS4) 2020/05/26 TSD Extended the Temperature Storage from -55°C to 85°C 1.1 Added 5.2.11 Early Move Function 2020/08/25 TSD Added 5.2.12 Read Retry Function 2 Transcend MTE652T2 Features Part Name Capacity TS512GMTE652T2 512GB TS256GMTE652T2 256GB TS128GMTE652T2 128GB FEATURES PCI Express Gen3 x 4, NVMe 3D TLC NAND Flash UBER 10-15 M.2 PCIe 2280 M Key DWPD 2 DWPD DDR3 DRAM cache MTBF 3,000,000 hours Global wear-leveling function Data Retention 1 year Enhance Bad block management Warranty 3 years Power shield function LDPC ECC (Error correction code) functionality ENVIRONMENTAL SPECIFICATIONS1) NVM command support Temperature Advanced Garbage Collection - Operating -20°C to 75°C Internal RAID Engine - Non-operating -55°C to 85°C Supports S.M.A.R.T. Function Humidity(non-condensing) 5%~95% PCB Gold Finger 30u” Shock 1500G, 0.5ms Dynamic Thermal Throttling (Default) Vibration 20G, 7~2000Hz Self-encrypting drives(SED) with AES-256 (Optional) POWER REQUIREMENTS1) Corner Bond (Key components) Supply voltage / Tolerance 3.3V±5% Active (max) 3.3W 1) PERFORMANCE Idle (max) 0.6W Data Transfer Rate - Sequential Read Up to 2100 MB/s PHYSICAL DIMENSION - Sequential Write Up to 1000 MB/s Width 22.00±0.15mm Length 80.00±0.15mm 1) RELIABILITY Height(max) 3.58mm TBW Weight Up to 9g - 512GB 1,080TB Note: - 256GB 540TB 1) For detail information, please refer to document content.
    [Show full text]
  • SPANSION INC., Et Al. Debtors. Chapter 11 Cases
    THIS PROPOSED DISCLOSURE STATEMENT IS NOT A SOLICITATION OF ACCEPTANCES OR REJECTIONS OF THE PLAN. ACCEPTANCES AND REJECTIONS MAY NOT BE SOLICITED UNTIL A DISCLOSURE STATEMENT HAS BEEN APPROVED BY THE BANKRUPTCY COURT. THIS PROPOSED DISCLOSURE STATEMENT IS BEING SUBMITTED FOR APPROVAL BUT HAS NOT YET BEEN APPROVED BY THE BANKRUPTCY COURT. UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: Chapter 11 Cases SPANSION INC., et al.1 Case No. 09-10690 (KJC) Debtors. (Jointly Administered) FIRST AMENDED DISCLOSURE STATEMENT FOR DEBTORS’ FIRST AMENDED JOINT PLAN OF REORGANIZATION DATED NOVEMBER 25, 2009 LATHAM & WATKINS LLP Michael S. Lurey Gregory O. Lunt Kimberly A. Posin 355 South Grand Avenue Los Angeles, CA 90071 Telephone: (213) 485-1234 Facsimile: (213) 891-8763 DUANE MORRIS, LLP Michael R. Lastowski Richard W. Riley Sommer L. Ross 1100 North Market Street, Suite 1200 Wilmington, DE 19801 Telephone: (302) 657-4900 Facsimile: (302) 657-4901 Counsel for the Debtors and Debtors in Possession 1 The Debtors in these cases, along with the last four digits of each Debtor’s federal tax identification number, are: Spansion Inc., a Delaware corporation (8239); Spansion Technology LLC, a Delaware limited liability company (3982); Spansion LLC, a Delaware limited liability company (0482); Cerium Laboratories LLC, a Delaware limited liability company (0482), and Spansion International, Inc., a Delaware corporation (7542). The mailing address for each Debtor is 915 DeGuigne Dr., Sunnyvale, California 94085. LA\2030380.6 TABLE OF CONTENTS
    [Show full text]
  • ONFI:ONFI: Leadingleading Thethe Wayway Toto Higherhigher NANDNAND Performanceperformance
    ONFI:ONFI: LeadingLeading thethe WayWay toto HigherHigher NANDNAND PerformancePerformance AmberAmber HuffmanHuffman PrincipalPrincipal EngineerEngineer IntelIntel CorporationCorporation JuneJune 7,7, 20072007 1 AgendaAgenda yyPCPC platformplatform andand needneed forfor aa standardstandard yyHighHigh speedspeed andand PCPC opportunityopportunity yyOtherOther keykey ingredientsingredients forfor PCPC useuse ofof NANDNAND 2 TheThe PCPC isis aa KeyKey ComponentComponent ofof NANDNAND GrowthGrowth Unit: in 1Gb E., Million units Q307F Q407F Shipment Demand Shipment Demand y NAND growth is projected to be 26.8 697.9 31.5 884.6 Digital Still Cameras 140% YoY for 06/07 13.7% 32.0% 17.4% 27.0% 271.7 880.2 309.7 1,271.5 Cell phones y Largest growth area is “Others” 7.0% 38.0% 14.0% 44.0% 35.1 615.2 38.9 734.5 USB Drives – More than 50% projected QoQ 14.8% 29.0% 10.7% 19.0% 32.6 779.7 46.7 1,223.4 Flash-based MP3/PMP growth for Q3/Q4 9.5% 32.0% 43.3% 57.0% Other 359.6 578.2 y A key component of the （DVs、Game 54.0% 61.0% Total NAND Flash 3,309.0 4,692.2 “Others” category is PC uses Demand 33.0% 42.0% in 1Gb E., Million units Worldwide NAND Flash IC Output (M 1Gb) 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2006 220.8 267.1 278.2 336.1 355.8 373.0 427.9 461.7 488.8 573.2 619.0 655.5 2007 629.7 671.8 703.8 777.6 829.8 869.9 1,027.2 1,095.6 1,147.8 1,416.3 1,511.4 1,584.0 Source: DRAMeXchange, 4/2007 3 NANDNAND InteroperabilityInteroperability ImpactsImpacts AdoptionAdoption inin PCPC PlatformsPlatforms
    [Show full text]
  • Introducing the View of SNIA Japan Cold Storage TWG on "Cold Storage"
    Introducing the view of SNIA Japan Cold Storage TWG on "Cold Storage" 19 Sep 2016 Kazuhiko Kawamura Sony Corporation 2016 Storage Developer Conference. © Insert Your Company Name. All Rights Reserved. 2 2016 Storage Developer Conference. © Insert Your Company Name. All Rights Reserved. Agenda 1. Introduction Why we are focusing on Cold Storage? About us (SNIA-J CSTWG) 2. Discussion Part-1 Definition of Cold Storage 3. Discussion Part-2 Taxonomy for Cold Storage Activity summary and next steps 4. Latest optical technology (Sony’s approach to Cold Storage) Archival Disc Technology Trial mapping of Cold Storage media 3 2016 Storage Developer Conference. © Insert Your Company Name. All Rights Reserved. Your data can be Cold, Colder, Coldest.. always access Hot frequently Warm Mapping Lukewarm sometimes Cold almost no access Extremely cold The toBulk of Data Storage market! Completely frozen! Source: IDC Worldwide Cold Storage 4 Ecosystem Taxonomy, 2014 #246732 2016 Storage Developer Conference. © Insert Your Company Name. All Rights Reserved. What’s your image for Cold Storage? 5 2016 Storage Developer Conference. © Insert Your Company Name. All Rights Reserved. Why you don’t care for Cold data? Excuse 1 There are no clear border lines between hot, warm and cold data and you think you can’t help this situation. Excuse 2 Cold data is old and not mission critical, thus it is something you can defer your decision. Excuse 3 Some imagines that Cold data is useless, simply because it is not earning money for now. Where is cold data … Cold data should be found everywhere!6 2016 Storage Developer Conference.
    [Show full text]
  • PDF Format, 4332Kbytes
    Hitachi Integrated Report 2018 Year ended March 31, 2018 Hitachi Group Identity Originally set by Hitachi founder Namihei Odaira, the Mission has been carefully passed on to generations of Hitachi Group employees and stakeholders throughout the company’s 100-year history. The Values reflect the Hitachi Founding Spirit, which was shaped by the achievements of our company predecessors as they worked hard to fulfill Hitachi’s Mission. The Vision has been created based on the Mission and Values. It is an expression of what the Hitachi Group aims to become in the future as it advances to its next stage of growth. The Mission, Values, and Vision are made to Identity be shared in a simple concept: Hitachi Group Identity. The more than century-long history of Hitachi since its founding is built atop the Mission expressed by founder Namihei Odaira— “Contribute to society through the development of superior, original technology and products.” Based on continually honing its proprietary technologies, Hitachi has sought to fulfill this Mission by providing products and services that address societal issues as they have changed over time. Hitachi’s philosophy of contributing to society and helping efforts to address societal issues is fully aligned with the Sustainable Development Goals (SDGs) adopted by the United Nations and the Society 5.0* concept promoted by the Japanese government. Today and for the future, Hitachi aims through its wide-ranging business activities to resolve the issues of its customers and society in the quest to build a more dynamic world. * Society 5.0 expresses a new idea of society and related efforts to achieve this, as advocated by the Japanese government.
    [Show full text]
  • Flash Memory Summit Pocket Guide 2017
    2017 FLASH MEMORY SUMMIT POCKET GUIDE AUGUST 8-10 SANTA CLARA CONVENTION CENTER AUGUST 7 PRE-CONFERENCE TUTORIALS Contents 3 4 Highlights 6 Exhibitors 8 Exhibit Hall Floor Plan 11 Keynote Presentations 2017 Sponsors Gold Sponsors Mobiveil Executive Premier Sponsors SANBlaze Technology Samsung SD Association SK Hynix Bronze Sponsors AccelStor Toshiba America ADATA Technology Electronic Components Apeiron Data Systems ATP Electronics Premier Sponsors Broadcom Brocade Communications Hewlett Packard Enterprise Systems Development Cadence Design Systems Intel Calypso Systems CEA LETI Marvell Semiconductor Celestica Micron Technology CNEX Labs Microsemi Epostar Electronics Excelero NetApp FADU Seagate Technology Fibre Channel Industry Assoc. Foremay Silicon Motion Technology Hagiwara Solutions Western Digital IBM JEDEC Platinum Sponsors Kroll Ontrack Crossbar Lam Research Maxio E8 Storage Mentor Graphics Everspin Technologies Newisys Innodisk NVMdurance NVXL Technology Lite-On Storage Sage Microelectronic NGD Systems SATA-IO Nimbus Data SCSI Trade Association Silicon Storage Technology One Stop Systems SiliconGo Microelectronics Radian Memory Systems SNIA-SSSI Synopsys Smart IOPS Tegile SMART Modular Teledyne LeCroy Technologies Teradyne Transcend Information Swissbit UFSA Symbolic IO ULINK Technology Viking Technology UNH-IOL UniTest Emerald Sponsors VARTA Microbattery VIA Technologies Advantest Virtium Amphenol Xilinx Dera Storage Participating Organizations Diablo Technologies Chosen Voice Gen-Z Consortium Circuit Cellar Connetics USA Hyperstone
    [Show full text]
  • Vanguard Total World Stock Index Fund Annual Report October 31, 2020
    Annual Report | October 31, 2020 Vanguard Total World Stock Index Fund See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports. Important information about access to shareholder reports Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your fund’s annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report. If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this report or by logging on to vanguard.com. You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this report or log on to vanguard.com. Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.
    [Show full text]
  • Hitachi's Broadcast/Network Hybrid Digital Recorder
    Hitachi’s Broadcast/Network Hybrid Digital Recorder 66 Hitachi’s Broadcast/Network Hybrid Digital Recorder — A Whole New Way of Watching Media — Atsushi Ugajin OVERVIEW: In the market for video recorder units, DVD (digital versatile Tsutomu Numata disk) recorders have seen explosive growth in recent years. HDD (hard disk drive)/DVD recorders in particular are predicted to enter households quickly, because of their convenience. The rapid increase of households connected to broadband networks has also caused an increase in the number of PCs and "information appliances" that can connect to networks and communicate from within the home. This has led this phenomenon to be referred to as a fusion of broadcast and communication within the home. With this concept in mind, Hitachi developed a new type of HDD/DVD recorder. In future, Hitachi will develop a hybrid digital recorder as the core of the home network, while expanding the capacity and features of the hard disk, the recorder’s key component, and making it more quiet and energy efficient. INTRODUCTION (b) boosted hard drive performance and capacity, DVD (digital versatile disk) recorders recently joined (c) advances in moving image digital recording the ranks of flat panel plasma TVs and digital cameras technology; as must-have digital gadgets, and all three items (d) integration of technology as a result of the shift continue to be shipped in Japan in increasing volume. from analog to digital, This is especially true of DVD recorders, 830,000 of (e) increased network speed. which were shipped in Japan between January and (2) User needs August 2003, as they begin to enjoy real demand.
    [Show full text]