COMPONENT SHORTAGES: Chief executive officer Jerry Shen said that supply-chain constraints have dashed hopes of its smartphone business being profitable in Q3

Taipei Times
Date: Aug 11, 2018
By: Ted Chen  /  Staff reporter

Asustek Computer Inc (華碩) yesterday gave a reserved outlook for this quarter as the company grapples with widening foreign exchange losses in the wake of the US-China trade war.

In the past quarter, the company reported NT$1.41 billion (US$45.92 million) in foreign exchange losses as currencies of its major overseas markets fell sharply.

In the first quarter, the company posted NT$1.17 billion in foreign exchange gains.

“The value of the Chinese currency fell by 6 percent against the US dollar in the past quarter, with Russia seeing a 9 percent drop,” Asustek chief financial officer Nick Wu (吳長榮) said during a teleconference.    [FULL  STORY]