Hon Hai Precision Industry Co (鴻海精密) chairman Young Liu(劉揚偉) on Thursday said that he expects the company’s revenue this year to exceed NT$6 trillion (US$200 billion), hitting a record high.
The iPhone assembler last year made NT$5.99 trillion, company data showed.
Liu’s comments were in line with the company’s revised revenue forecast of growth for this year, instead of a flattish performance that it projected three months earlier.
At present, Hon Hai is able to manufacture 60 percent of the components in a smartphone, Liu said, while noting a downturn in the mobile phone industry.
However, he expressed optimism about the emerging electric vehicle (EV) industry, saying it would surpass the mobile phone industry as a profit driver.
Liu also shared his views on ways to allow Hon Hai, which ranked 20th among the world’s top 500 companies in 2020 and is marking its 48th anniversary this year, to stay competitive over the next 50 years.
To that end, Hon Hai has identified the formula for moving in the direction of sustainability: creating stable net earnings per share (EPS) and assuming corporate social responsibility.
The company has also worked to upgrade the EV industry and has established the MIH Open Platform for the development of electric vehicles, Liu said.
Hon Hai’s goal is to ensure its electric vehicles account for 5 percent of the global market share by 2025, with sales of NT$1 trillion and annual shipments of 500,000 to 750,000 units.
The company has promoted a “3 plus 3” initiative to expand from its contract manufacturing business into hardware and software integration.
The development of EVs is central to the initiative, as it is building an EV supply chain, it said.
The “3 plus 3” initiative refers to three emerging industries — EVs, robots and digital healthcare — that are being developed through the applications of artificial intelligence, semiconductors and communications technologies.
By 2025, the combined market size of those three industries is expected to reach US$1.4 trillion, Liu said.
Liu made the remarks while addressing this year’s SAP NOW Taiwan, a conference organized by SAP Taiwan.
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