Hon Hai Group (鴻海集團), which assembles iPhones and iPad for Apple Inc, is likely to see revenue grow nearly 60 percent this year to top NT$3 trillion (US$102 billion), chairman Terry Gou (郭台銘) told reporters yesterday.
A 60 percent increase would exceed the annual growth of 15 percent Gou set in September as the company’s long-term target.
“It is difficult to grow as fast [as before],” after the company has grown on such a large scale, the Central News Agency reported yesterday, citing Gou’s remarks during a speech by him arranged by GRETAI Securities Market.
Next year, Hon Hai Group, also known as Foxconn Technology Group (富士康科技集團) in China, will see its revenues grow more than 15 percent, Gou said.
Gou said he was “optimistic [about the group’s outlook], but has to talk conservatively,” according to the report.
He did not give details about what would be the engines for the company’s growth.
“We believe notebook ODM, LCD TV outsourcing and new product drivers from Apple, such as the iPad and iPhone, will remain long-term growth drivers over the next two years to three,” Bank of America Merrill Lynch analyst Kengean Tan said in a report released early this month.
Tan gave a “buy” rating on Hon Hai Precision Industries Inc (鴻海精密), the flagship company of the group, with a target price at NT$130, according to its report released early this month.
“We are positive on Hon Hai, given its broadening relationship with key customers, share gains at HP, Dell and Cisco, model launches for iPhone and tablet PCs, the widening gap with EMS [electronics manufacturing service] competitors and improving cost structure,” Tan said.
Bank of America Merrill Lynch forecast that Hon Hai Precision would make NT$2.85 trillion in consolidated revenues this year, up more than 45 percent from last year’s NT$1.96 trillion and that next year’s revenues may expand more than 18 percent to NT$3.38 billion.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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