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
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
The Financial Supervisory Commission (FSC) yesterday met with some of the nation’s largest insurance companies as a skyrocketing New Taiwan dollar piles pressure on their hundreds of billions of dollars in US bond investments. The commission has asked some life insurance firms, among the biggest Asian holders of US debt, to discuss how the rapidly strengthening NT dollar has impacted their operations, people familiar with the matter said. The meeting took place as the NT dollar jumped as much as 5 percent yesterday, its biggest intraday gain in more than three decades. The local currency surged as exporters rushed to
RSS