Taiwan’s Hon Hai Precision continued to benefit from the huge popularity of the iPhone 6 and 6 Plus, posting a 15 per cent increase in sales in Q1 – its highest ever for the January-March period.
The company, also known as Foxconn, is the largest contract electronics manufacturer in the world and the main assembler of Apple’s iPhone line. It is estimated to assemble 70 per cent of the iPhone 6 models, and it is the sole assembler of the iPad Air 2.
Turnover for the quarter, which hit TWD1.01 trillion ($32.27 billion), however, was down sharply from its record Q4 sales of TWD1.5 trillion.
Analysts expect sales to drop in Q2 as demand for the iPhone faces a traditional cyclical slowdown, but the pace would pick up in the second half of the year, the China Post reported. Analysts noted that its sales to Android vendors have also increased.
Its subsidiary FIH Mobile reported last month that Asia customers accounted for 62 per cent of revenue last year. In addition to Apple, it handles smartphone orders from Huawei, Xiaomi and Sony.
FIH’s net profit last year jumped 118 per cent to $169 million (TWD5.3 billion). The Hong Kong-listed firm, which is 70 per cent owned by Hon Hai, said revenue increased 36.7 per cent to $6.83 billion.
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