Key iPhone assembler, Hon Hai, has ridden the demand for Apple’s new device posting September quarter earnings that far outstripped Wall Street estimates.
The Taiwanese manufacturer reported US$1.3 billion in net income for the quarter, well above analysts’ forecasts of US$1.17 billion.
Hon Hai’s unexpected results “indicates stronger-than-expected demand for its semiconductors, mainly power and analog chips, and iPhone assembly service,” Bloomberg Intelligence analyst Charles Shum said.
Hon Hai Chairman Young Liu said on a company earnings call that business during the December quarter won’t be as robust, shrinking from the previous December quarter as component shortages continue to result in a decline in computing and consumer electronics.
