Mon, Jul 08, 2019 - Page 15 News List

Taiwan Business Quick Take

Staff writer, with CNA

CURRENCIES

Forex reserves set record

Foreign exchange reserves hit a record high at the end of last month, partly because of the central bank buying the US currency to slow the New Taiwan dollar’s appreciation. Forex reserves rose US$2.54 billion from a month earlier to US$466.97 billion, the central bank said on Friday. In addition to its purchases of the greenback, a higher euro, which is in the bank’s investment portfolio, and an increase in investment returns boosted forex reserves last month, the central bank said.

ELECTRONICS

New phones boost HTC

HTC Corp reported consolidated sales of NT$1.46 billion (US$46.95 million) for last month, up 93.89 percent from a month earlier, but still down 34.46 percent from a year earlier. The high month-on-month increase in sales largely reflected the unveiling of its latest two mid-range smartphones — the U19e and Desire 19+ — with starting prices of NT$14,900 and NT$9,900 respectively. Sales in the first six months decreased 63.05 percent year-on-year to NT$5.75 billion amid stiff competition in the global market.

ELECTRONICS

Hon Hai posts June record

Hon Hai Precision Industry Co on Friday reported its highest-ever sales for June, with analysts attributing it to solid demand for communication and computing devices. Consolidated sales were NT$396.54 billion last month, up 1.71 percent from a year earlier and 3.2 percent from a month earlier, the company said. Hon Hai’s second-quarter sales rose 10.07 percent from the first quarter to NT$1.16 trillion, the highest for the April-June period, and its combined sales in the first six months increased 5.14 percent to NT$2.22 trillion from a year earlier, company data showed.

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