Hon Hai reports highest-ever April sales

Taipei, May 5 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry Co. reported its highest-ever April sales on Sunday, driven by solid demand for cloud and networking products.

Hon Hai, an iPhone assembler also known as Foxconn in the global market, reported consolidated sales of NT$510.9 billion (US$15.8 billion) for April, up 19.03 percent from a year earlier.

That figure marks Hon Hai's highest ever for the month of April. It is also a 14.16 percent monthly increase, the report showed.

The April performance was propelled by a high AI server demand, as well as large numbers of orders for Hon Hai components, smart consumer electronics and computing products, the company said.

Generally speaking, all main business divisions experienced robust growth compared to the previous year and the previous month, according to Hon Hai.

However, Hon Hai's consolidated sales for the first four months of 2024 stood at NT$1.83 trillion, down 3.11 percent year-on-year, the report showed.

The company attributed this to the overall stagnant performance of computing products and the decline in sales of smart consumer electronics.

Hon Hai said the second quarter is expected to remain a traditional off-peak season because the company will enter transition periods between new and old versions of major goods being produced.

Nonetheless, the visibility for the second quarter closely aligns with current market expectations, forecasting both quarter-on-quarter and year-on-year growth, it said.