Tue, Jan 03, 2012 - Page 12 News List

Wintek’s sales rose by almost 45% last year

COATTAILS:Analysts said the firm’s success came from robust shipments of such products as Apple’s iPad and iPhone, as well as Amazon’s Kindle Fire tablet

By Jason Tan  /  Staff Reporter

Wintek Corp (勝華), which supplies touch panels to Apple Inc and Nokia Oyj, yesterday said consolidated sales last month reached NT$10.56 billion (US$349 million), up 7.43 percent from November.

The figure was a jump of 33.97 percent from December 2010, according to a company statement.

For the whole of last year, consolidated gross sales amounted to NT$93.77 billion — an increase of 44.64 percent from NT$64.83 billion in 2010.

Analysts attributed the firm’s strong momentum to robust shipments of clients’ products such as Apple’s iPad and iPhone, as well as Amazon’s Kindle Fire tablet PC.

“Based on our channel checks, Amazon is aiming to launch a new Kindle tablet with an 8.9-inch display late in the second quarter of 2012, and is targeting tablet shipments of 15 million to 20 million units this year, in which Wintek will account for some 40 percent of supply share compared with about a 50 percent share from [local rival] TPK [Holding Co Ltd (宸鴻)],” Credit Suisse said in a report on Wednesday.

In addition, Wintek started touch-panel pilot production for the iPad 3 last month with about 500,000 units and will start mass production this month, the brokerage said.

For the current quarter, Credit Suisse expects Wintek’s revenues to benefit from the 30 percent to 40 percent rise in shipments of displays and touch components for the iPad 2 and iPad 3.

Credit Suisse adjusted its estimates on Wintek’s earnings per share (EPS) and target stock price, increasing its EPS estimate this year by 11 percent to NT$1.67 because the maker’s first-half revenue momentum should be above seasonal demand because of new tablet launches, including those from Apple and Amazon.

It also raised Wintek’s target price from NT$18 to NT$23.

Shares of Wintek closed up 2.56 percent to NT$21.65 on the Taiwan Stock Exchange yesterday.

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