Demand remains robust as consumers snatch-up devices for at-home work, play and education.
From Debby Wu’s “Hon Hai Revenue Jumps 44% on Stay-at-Home Demand for Gadgets” posted Tuesday:
IPhone assembler Hon Hai Precision Industry Co.’s first-quarter revenue jumped 44% on robust demand for Apple Inc.’s new 5G devices and other gadgets that help consumers stay connected at home during the pandemic.
Revenue in the three months through March rose to NT$1.34 trillion ($47 billion), the Taiwanese manufacturer reported Tuesday, in line with the average analyst estimate. Sales in March climbed to NT$441.2 billion.
The strong showing from the world’s largest contract electronics maker suggests demand for iPhones, gaming consoles and servers remains robust as consumers snatch up devices for remote work, home-schooling and entertainment needs. Companies are also spending on technology, expanding data-center infrastructure to better serve customers’ online activities.
My take: More wind at Apple’s back.