Wed, Apr 11, 2018 - Page 12 News List

Hon Hai first-quarter sales surge to new record high

By Ted Chen  /  Staff reporter

Hon Hai Precision Industry Co (鴻海精密) yesterday reported that sales last month rose to the second-strongest showing ever for March, pushing aggregate sales in the first quarter to a new record high.

The world’s largest electronics contract manufacturer posted sales of NT$349.15 billion (US$11.96 billion), up 25.68 percent from February’s NT$277.82 billion and up 2.18 percent from NT$341.69 billion the previous year.

Aggregate sales in the first quarter rose 5.22 percent year-on-year to NT$1.28 trillion.

The results for last month met analysts’ forecasts of sales of between NT$300 billion and NT$350 billion as production resumed after the Lunar New Year holiday.The communications division saw the strongest growth last month, followed by computing and consumer electronics, a Hon Hai investor relations official said by telephone.

It marked the third consecutive month when the consumer electronics division trailed its two other major businesses.

Hon Hai, which is the sole assembler of Apple Inc’s iPhone X, has been affected by declining sales forecasts for the smartphone, but its sales were bolstered by robust demand for the lower-priced iPhone 8 Plus.

While analysts expect the company to enter its customary slow season next month, when major brands are between product cycles, Apple’s upcoming lower-priced tablets and laptops could lend support to sales growth during the lull.

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