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Hon Hai sales in August up 98% year-on-year; new high

Hon Hai sales in August up 98% year-on-year;  new high

Taipei, Sept. 11 (CNA) Hon Hai Precision Industry Co., which assembles Apple's iPads and iPhones, posted record monthly sales of NT$214.81 billion (US$6.75 billion) in August, the highest single-month sales figure ever recorded by a Taiwanese private company.
Hon Hai's August sales were 98.44 percent higher than a year earlier and 9.5 percent higher than the previous month's sales of NT$196.17 billion, the company said Friday.
Revenues over the first eight months of 2010 totaled NT$1.34 trillion, 61.77 percent higher than for the same period of last year and approaching the 2009 full-year revenues of NT$1.42 trillion.
Hon Hai's single month revenue in August is almost equal to five months of revenue of Taiwan Semiconductor Manufacturing Co (TSMC) , the world's largest contract chipmaker, local analysts said.
Foreign institutional investors said Hon Hai is expected to achieve a 30 percent growth target for revenue this year.
However, Hon Hai Precision Chairman Terry Gou said earlier this month that he expects sales of the group in the long term to slow down, and he cut the annual sales growth forecast for the next decade to 15 percent from the 30 percent of the past decade.
Institutional investors attributed Hon Hai's high revenue growth to robust sales of consumer electronics and predicted that sales in the third quarter of this year will double those of the second quarter.
Hon Hai also benefited from increasing iPhone, iPad and Apple TV sales, they said.
Hon Hai closed at NT$108, up NT$1, or 0.93 percent, on the Taiwan Stock Exchange Friday. However, amid concern over its sales growth after Gou's remarks, shares had fallen more than 3 percent over the preceding week.
(By Pan Chi-i and Fanny Liu)

Updated : 2021-05-12 05:17 GMT+08:00