New iPhone models increase Hon Hai Precision’s monthly revenues by 20%

By Lisa Wang  /  Staff reporter

Fri, Oct 11, 2013 - Page 13

The launches of the long-awaited iPhone 5S and 5C last month helped Hon Hai Precision Industry Co Ltd (鴻海精密) post a 20.47 percent monthly increase in revenue of NT$337.86 billion (US$11.43 billion) last month, after it posted a decline of 7 percent the previous month.

Last month’s figure, the highest level this year, increased 14.26 percent from the same month last year and was also stronger than the 2.55 percent annual growth registered in August, data released by the company on Wednesday showed.

That reflected Apple Inc’s better-than-expected first-weekend sales of new iPhones.

The company sold more than 9 million units after they hit certain markets — including the US and China — on Sept. 20, beating market forecasts of 6 million to 8 million units.

On Wednesday, Apple said in a statement on its Web site that the new iPhones would be available in more than 25 countries, including Taiwan, from Oct. 25.

Hon Hai’s revenue for the July-to-September quarter grew 2.98 percent to NT$918.54 billion from the previous quarter and the company is likely to see revenue continue to expand this quarter, because Apple’s new iPad products are to enter mass production.

On Tuesday, the technology news Web site AllThingsD reported that Apple is planning to unveil a next-generation iPad at an invitation-only event on Oct. 22.

Hon Hai is the world’s largest contract electronics maker, with products ranging from computers and consumer electronics to communications devices.

While it remains the biggest supplier to Apple Inc, it also assembles products for other companies, including Sony Corp and Hewlett-Packard Co.

In the first nine months of the year, cumulative revenue declined 5.18 percent year-on-year to NT$2.62 trillion, an indication of slower consumer demand amid a lukewarm recovery in the global economy.

Shares of Hon Hai fell 0.66 percent to NT$75.3 on Wednesday, declining 15.3 percent since the beginning of the year, Taiwan Stock Exchange data showed.