Hon Hai 2018 sales hit new high

Focus Taiwan
Date: 2019/01/11
By: Chung Jung-feng and Frances Huang

Taipei, Jan. 11 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry Co., an iPhone assembler, saw its 2018 sales hit a new high despite market concerns over weaker-than-expected shipments of the latest iPhone models unveiled in September.

Analysts said Hon Hai was able to overcome a fall in iPhone sales by diversifying its product portfolio, helping the company post revenue of more than NT$5 trillion (US$162 billion) in 2018.

Yet the record sales number did little to energize the company’s stock, which has fallen more than 13 percent over the past three months.

On Friday, Hon Hai shares edged up 0.14 percent to close at NT$69.40 in Taipei.

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