n early March, China's National People's Congress approved its 12th Five-Year Plan (2011-2015). This plan is likely to go down in history as one of China's boldest strategic initiatives. In essence, it will change the character of China's economic model -- moving from the export- and investment-led structure of the past 30 years toward a pattern of growth that is driven increasingly by Chinese consumers. This shift will have profound implications for China, the rest of Asia, and the broader global economy.

Applied Materials and Varian Semiconductor Equipment Associates have announced the signing of a definitive merger agreement under which Applied will acquire Varian for US$63 per share in cash. The acquisition will extend Applied's leadership in wafer fabrication equipment with the addition of the technology leader in ion implantation.

Norway's Renewable Energy Corp posted forecast-beating earnings on Wednesday, but warned of waning demand, oversupply and price pressure as political uncertainty clouds key European solar markets.

Nokia board chairman Jorma Ollila said Tuesday that he would leave his post by the year 2012 as expected, but that he would not "throw in the towel" at the world's leading mobile phone maker before then.

"I don't think Samsung would ever want to be No. 2 in any market," said Catherine Morse, the general counsel and director of public affairs at Samsung Austin Semiconductor.

In January 2009, LG Display signed a MOU with Cree for it to supply LED chips, key components in value-added liquid crystal display (LCD) products. But an LG spokesman Monday described the MOU as "meaningless" now.

First Solar Inc.'s (FSLR) first-quarter earnings fell 33% because of lower sale prices, higher costs and a slowdown in Europe's solar market, prompting the U.S. solar-panel maker to aim for new markets.

The worldwide mobile phone market grew 19.8% on year in the first quarter of 2011 fueled by high smartphone growth, especially in emerging markets, and gains made by market challengers, according to IDC.

Infineon's decision to exit the wireless business to focus on chips for cars and energy-efficient machines has paid off, as strong second-quarter results let the German chipmaker raise its full-year outlook.

"Based on a number of inputs, we believe Intel is also vying for Apple's foundry business," said Gus Richard, an analyst with Piper Jaffray & Co., in a new report.

Amkor's rise in revenues wasn't enough to offset an increase in expenses, and would have been higher had the company not taken a hit from the Japan disaster. Amkor operates a 211,000-square foot factory in Japan, one of the company's smallest facilities, according to regulatory filings.

Future versions of Motorola's Atrix smartphone-laptop combo will be rolled out as Android "alternatives" to tablets and other newfangled devices, Motorola's chief executive said this week.

A Chinese manufacturing index declined in April from March, indicating that growth may moderate in the world's second-biggest economy after the government raised interest rates and allowed faster gains in the yuan.

Japanese automobile sales more than halved in April - the biggest monthly drop on record - and are not expected to recover until late 2011, raising concerns the country's leading vehicle manufacturers will post losses for the first half of the year.

Japan's parliament has passed a JPY4 trillion (US$49 billion) emergency budget for reconstruction following the 11 March earthquake and tsunami.

Apple won the first round in a patent fight with Elan Microelectronics over touchpad technology, the ITC said on April 29.