Highest-ever sales reported by the electronics giant ‘Hon Hai Precision Industry Co.’

Hon Hai Precision Industry Co.’

Hon Hai Precision Industry Co., which is the largest contract electronics manufacturer of the world, reported its highest-ever sales for the month of June for the firm, with market analysts attributing the growth to solid demand for computing and communication devices.

According to data compiled by Hon Hai, who is an iPhone assembler, posted US$12.75Bn in sales in June, up 1.71% from a year earlier, representing the company’s highest revenue for June. The sales in June rose 3.2 % from a month earlier.

In the 2nd quarter of this year, there was a rise in the consolidated sales 10.07% from the 1st quarter to NT$1.16 trillion, which was the highest-ever April to June period level for the firm, the data shows.

In the first 6 months of 2019, Hon Hai who is also known as Foxconn in the global market, recorded NT$2.22 trillion in consolidated sales, which is a rise in 5.14% from a year earlier, the data indicates.

Looking further in the future, analysts said Hon Hai has begun to raise production for the 3rd quarter in preparation for the topmost season in the 2nd half of this year, particularly for the year-end shopping spree among international consumers.

One of Hon Hai’s major clients, Apple Inc., could launch new smartphone models in September — a 6.5-inch iPhone equipped with an organic light-emitting diode screen, a 6.1’’ iPhone sporting an LCD screen, a 5.8-inch OLED iPhone analysts stated, adding that the new devices are anticipated to stimulate buying, which will improve the Hon Hai’s shipments in the 2nd half of this year.

According to international media, Apple is taking in consideration the possibility of moving between 15% and 30% of its hardware production of its suppliers out of China in a bid to prevent any possible impact from the Washington-Beijing trade dispute, and Hon Hai might be one of Apple’s suppliers in the United States consumer electronics giant’s plan.