Hon Hai Precision Industry Co (鴻海精密) yesterday reported better-than-expected revenue for last month, with consolidated sales rising 46.41 percent from a month earlier and 25.6 percent from a year earlier to NT$585.73 billion (US$20.99 billion), the second-highest figure ever reported for the month of September.
Hon Hai, also known as Foxconn Technology Group (富士康科技集團) on the global market, said that compared with a year earlier, its consumer smart device division had the best performance last month, ahead of electronics components, computers and cloud- based networking.
The company's consumer smart device division recorded the strongest performance relative to the previous month, followed by the electronics components division, computer division, and cloud-based networking division, it said.
With the strong showing for last month's revenue, the iPhone assembler’s third-quarter revenue rose to NT$1.40 trillion, up 3.44 percent quarter-on-quarter and 8.8 percent from a year earlier.
Last quarter’s revenue was a record for the third quarter and beat analysts’ predictions, the world’s largest contract electronics maker said.
For the first nine months of the year, cumulative revenue totaled NT$4.10 trillion, up 22.58 percent from last year’s NT$3.35 trillion and a record for the period, company data showed.
Analysts said Apple Inc's iPhone 13 series is expected to continue to push up Hon Hai's shipments in the fourth quarter, with demand forecasts for the iPhone 13 Pro and iPhone 13 Pro Max appearing solid.
Hon Hai is believed to serve as the sole assembler of the two larger iPhone 13 models. It is also thought to be responsible for 65-70 percent of assembly orders for the entire iPhone 13 series.
As a major cloud service provider, Hon Hai is also expected to benefit from the growing demand in the high-margin market for servers and related components throughout the October-December period, analysts said.
Handset camera lens maker Largan Precision Co (大立光), also one of Apple Inc’s suppliers, posted sales of NT$4.17 billion for last month, up 4 percent from a month earlier, but down 19 percent from a year earlier.
Last month's figure was the highest level in eight months, with analysts attributing the result to an increase in orders from the American consumer electronics giant.
Revenue for last quarter was NT$11.98 billion, up 18 percent quarter-on-quarter, but down 19 percent year-on-year, it said.
Combined revenue for the first three quarters was NT$33.91 billion, down 17 percent from a year earlier, Largan said.
The company said it expects sales for this month to remain little changed from last month.
Meanwhile, electronics maker Qisda Corp (佳世達) reported record sales last month, with revenue of NT$20.7 billion, up 16.5 percent from a month earlier and 5 percent from a year earlier, due to robust demand for LCD monitors and projectors.
Total revenue for the first nine months was NT$164.1 billion, up 21.9 percent year-on-year, it said.
Electronic components maker Lite-On Technology Corp’s (光寶科技) revenue rose 8 percent month-on-month to NT$14.61 billion last month, but was flat from a year earlier.
Cumulative sales from January to last month totaled NT$120.26 billion, up 10 percent year-on-year, it said.
Additional reporting by CNA
UNCONVINCING: The US Congress questioned whether the company’s Chinese owners pose a national security risk and how the app might influence young users TikTok chief executive officer Shou Chew (周受資), confronted with an unforgiving, distrustful US Congress, tried to give answers in his testimony on Thursday that avoided offending either the US government or China. However, his evasiveness left Congress unsatisfied, with representatives hungrier than ever to punish TikTok for ties to its parent company ByteDance Ltd (字節跳動), based in Beijing. He did not bring his company any closer to a resolution. Politically, TikTok is in a tougher spot. Its executives had been discussing divesting from ByteDance to resolve US national security concerns, people familiar with the matter told Bloomberg. However, China this week said
The Investment Commission yesterday approved a Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) application to invest an additional US$3.5 billion in its Arizona subsidiary to manufactured advanced chips. The world’s largest contract chipmaker’s board of directors last month approved the funding project after TSMC started moving manufacturing equipment into the fab in December last year in preparation for the production of 4-nanometer chips next year. TSMC said it has also commenced the second phase of facility construction in Arizona. The second fab is to produce semiconductors using 3-nanometer technology in 2026. Altogether, TSMC plans to spend US$40 billion on the Arizona fabs, doubling its
KEY SECTOR: Taiwan’s new chip legislation is insufficient, and a more strategic ‘chip act’ that covers the whole semiconductor ecosystem is needed, MediaTek’s chairman said MediaTek Inc (聯發科) chairman Rick Tsai (蔡明介) yesterday urged the government to formulate a state semiconductor strategy and comprehensive “chip act” that includes local chip designers and smaller-scale semiconductor companies, as they are facing intensifying competition from China. The government is playing an increasingly important role in safeguarding the local semiconductor industry’s competitiveness, given that the US, the EU and Japan are offering hefty subsidies and significant tax incentives to build semiconductor capacity domestically, as they have realized the strategic importance of semiconductors, Tsai said. To implement such a program, the government should take steps to finance a “chip act,” Tsai said
Microsoft Corp has threatened to cut off access to its Internet search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence (AI) chat products, people familiar with the dispute have said. The software maker licenses the data in its Bing search index — a map of the Internet that can be quickly scanned in real time — to other companies that offer Web search, such as Apollo Global Management Inc’s Yahoo and DuckDuckGo. Last month, Microsoft integrated a cousin of ChatGPT, OpenAI’s AI-powered chat technology, into Bing. Rivals
RSS