Hon Hai Precision Industry Co (鴻海精密), a key assembler of Apple Inc’s iPhones, yesterday reported its highest monthly revenue for the month of August amid increased production of the devices in preparation for the US technology giant’s product launch tomorrow.
The world’s largest contract electronics maker reported that revenue last month rose 0.3 percent month-on-month and 25.3 percent annually to NT$396.79 billion (US$12.87 billion).
Total sales in the first eight months of this year rose 14.8 percent annually to NT$2.9 trillion, also a record, the company said.
Consumer electronics made up most of the revenue last month, followed by communications and computing products, it said.
However, Hon Hai shares yesterday fell 3.35 percent to NT$75.1 in Taipei trading after US President Donald Trump in a tweet urged Apple to shift its production to the US for protection from the US-China trade war and “ZERO tax.”
Shares of Pegatron Corp (和碩), which has been tapped as a major assembler for the new 6.1-inch LCD iPhone model, also fell 3.92 percent to NT$58.8, despite sales last month setting a record for August.
Pegatron reported that revenue last month fell 5.52 percent from the previous month, but rose 10.19 percent annually to NT$98.21 billion, with aggregate revenue in the first eight months expanding 13.82 percent to NT$754.24 billion.
The LCD-model iPhone would be more affordable than two other OLED models and is expected to account for more than half of iPhone shipments in the second half of this year, analysts have said.
Wistron Corp (緯創), which is expected to take the smallest portion of iPhone assembly orders among local peers, reported that revenue last month rose 11.2 percent sequentially and 10.7 percent annually to NT$73.78 billion, with total revenue in the first eight months increasing 10.6 percent annually to NT$546.53 billion.
Wistron said that due to a shortage of Intel processors, it has slashed its growth forecast on notebook shipments from a double-digit percentage to single digits, while momentum for its other products remained intact.
Quanta Computer Inc (廣達), an assembler of Apple’s MacBook Air and Apple Watch, said that revenue last month rose 10.79 percent sequentially and 8.85 percent annually to NT$99.32 billion, while revenue during January-to-August period fell 3.49 percent annually to NT$618.12 billion.
Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights. The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines are not waiting for a lack of supplies to react. “Travel alert: Airlines are cutting thousands of flights right now,” Travel Therapy host Karen Schaler said in an Instagram reel this past weekend.
MANAGING RISKS: Taiwan has secured LNG sufficient to cover 95 percent of electricity demand for next month, UBS said, describing the government’s approach as proactive UBS Group AG has raised its forecast for Taiwan’s economic growth this year to 8 percent, up from 6.9 percent previously, and said expansion could reach as high as 8.6 percent if external energy shocks are avoided. The upgrade reflects a stronger-than-expected first-quarter performance and sustained momentum in artificial intelligence (AI)-driven exports, which UBS said are providing a firm foundation for growth despite geopolitical and energy risks. Taiwan’s GDP expanded 13.69 percent year-on-year in the first quarter, the fastest growth since the second quarter of 1987, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported on Thursday. On a seasonally
The Fair Trade Commission’s (FTC) ongoing review of Grab Holdings Ltd’s US$600 million acquisition of Foodpanda Taiwan’s operations, announced on March 23, has taken on fresh urgency as industry experts warn that the transaction could embed significant Chinese cybersecurity vulnerabilities into Taiwan’s digital infrastructure through Grab’s deep ties to autonomous-driving firm WeRide (文遠知行). Less than 16 months after the FTC blocked Uber Eats’ direct attempt to acquire Foodpanda Taiwan — citing potential combined market shares of 80 to 90 percent — the emergence of Grab as the buyer has prompted questions about whether the same competitive harm is simply being rerouted
The list of Asian stocks that benefit from business partnership with Nvidia Corp is getting longer, as the region further integrates into the artificial intelligence (AI) chip giant’s business ecosystem. Just in the past week, South Korea’s LG Electronics Inc, Taiwan’s Nanya Technology Corp (南亞科技), as well as China’s Huizhou Desay SV Automotive Co (德賽西威) and Pateo Connect Technology Shanghai Corp (博泰車聯) have become the latest to rally on news of tie-ups, supply-chain participation or product collaboration with the US chip designer. Asian suppliers account for about 90 percent of Nvidia’s production costs, up from about 65 percent last year, data compiled
RSS