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  VIA spins off multimedia chip division in first step of ‘Canaan Project’
Time: 19:43 EST/00:43 GMT | News Source: DigiTimes | Posted By: Guillaume Hébert

VIA Technologies recently took the first major step in its “Canaan Project” by spinning off its ODD (optical disc drive) chip division. Renamed as VIA Optical Solution (VOS), the new company is a 100%-owned subsidiary of VIA. VIA’s CEO and president Chen Wen-chi and chairman Cher Wang will serve as VOS’s president and chairman, respectively. VIA announced the “Canaan Project” earlier this year, planning to expand its operations through organizational restructuring. VIA will spin off its networking chip department before year-end. The “Canaan Project” has attracted much attention from the market, especially in the ODD chip sector. With its announcement that it would lead the market by 2003, VIA openly challenged current market leader MediaTek. Lately, competition between the two companies seems to have become more heated, with constant rumors about price cuts and about employee poaching by MediaTek.

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