Mon, Oct 07, 2019 - Page 16 News List

Hon Hai’s revenue rises 47.38% to nine-month high

By Chen Cheng-hui  /  Staff reporter

Hon Hai Precision Industry Co (鴻海), which assembles Apple Inc’s iPads and iPhones, on Saturday reported that consolidated revenue last month increased 47.38 percent from a month earlier to its highest in nine months.

Revenue was NT$587.79 billion (US$18.98 billion), compared with NT$398.82 billion in August, the company said in a statement.

Last month’s result was in line with market expectations, as the company was gearing up to assemble new iPhone models for Apple.

Compared with August, Hon Hai said it benefited from a strong showing in its consumer electronics division, followed by the computing and communication devices businesses, it said in a statement.

On an annual basis, revenue was up 0.49 percent, said Hon Hai, one of the world’s leading electronics manufacturing service providers.

The company’s revenue for last month was the highest-ever for September in its history, while its third-quarter revenue of NT$1.39 trillion was also a record high, Hon Hai data showed.

For the first nine months of the year, revenue totaled NT$3.6 trillion, up 3.32 percent year-on-year, the filing showed.

Last week, the Nikkei Asian Review reported that Apple had told suppliers to boost production of iPhone 11 devices by up to 10 percent amid unexpectedly higher demand, suggesting a more budget-minded focus is paying off for Apple and indicating a potential boom for the US company’s suppliers.

However, as Washington is to add China-made items — including smartphones, notebook computers, toys and some clothing — to the 15 percent tariff list on Dec. 15, the market remains cautious over smartphone supply chains, as well as consumer electronics and computers that Taiwanese companies produce in China, analysts have said.

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