NO STRINGS ATTACHED: Merry Electronics is negotiating orders for its true wireless stereo headphones, which are set to significantly contribute to revenue next year

Taipei Times
Date: Oct 26, 2019
By: Natasha Li  /  Staff reporter

Audio electronics maker Merry Electronics Co Ltd (美律), a speaker supplier for Apple Inc’s iPhones, yesterday issued a cautiously optimistic outlook for the fourth quarter after it posted a net profit of NT$890.07 million (US$29.09 million) for last quarter, a 14.66 percent quarter-on-quarter increase.

The Taichung-based company posted revenue of NT$10.1 billion for last quarter, up from NT$10.06 billion the previous quarter, as it benefited from growing orders for smartphone speakers, Merry president Allen Huang (黃朝豊) said at an earnings conference in Taipei.

Orders should remain steady throughout this quarter as new smartphone models hit the market, he said.

Gross margin, while within the company’s expectations, dipped to 14 percent last quarter from 16 percent in the second quarter due to a higher proportion of sales being speakers, which yield a lower gross margin, he added.    [FULL  STORY]