Hon Hai sales hit new high in 2017

2018/01/10 22:17:33 fontsize-small fontsize-default fontsize-big
CNA file photo

CNA file photo

Taipei, Jan. 10 (CNA) Hon Hai Precision Industry Co., the world's largest contract electronics maker, reported record high sales for 2017, which analysts attributed to increased iPhone orders from Apple Inc.

Hon Hai posted NT$4.7 trillion (US$159 billion) in consolidated sales for 2017, an 8.04 percent annual increase and the highest ever in the company's history.

Hon Hai assembles iPhone and iPads for Apple and is believed to be the sole assembler of the premium iPhone X. In addition, Hon Hai also makes tech gadgets for many other international brands.

Its record-high sales in 2017 were driven by solid global demand for new electronics devices, particularly toward the end of the year, analysts said.

In December alone, Hon Hai's consolidated sales totaled NT$675.14 billion, an increase of 18.5 percent from a month earlier and 50.15 percent from a year earlier.

Its cell phone business in particular saw a significant increase in sales in December, said the company, so sales in the month topped the NT$600 billion mark in a single month for the first time.

Hon Hai's communications device manufacturing division also posted strong sales in December, as well as its computing device and consumer electronics device divisions.

On the back of its strong showing in December, Hon Hai recorded NT$1.73 trillion in consolidated sales for the fourth quarter of 2017, up 60.3 percent from a quarter earlier.

While there has been worry over shipments of the high-end iPhone X, analysts said demand is expected to continue into the first quarter of 2018, which will offset the effects of the slow season.

(By Chung Jung-feng and Frances Huang)

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