Hon Hai reports highest March, Q1 sales

Taipei, April 5 (CNA) Hon Hai Precision Industry Co. generated NT$552.1 billion (US$16.63 billion) in consolidated sales in March, the highest ever recorded for the month, according to the Taiwan-based manufacturing giant.

The figure represents an increase of 23.37 percent from a year earlier and was up 0.13 percent from the previous month, the company said in a statement on Saturday.

The increase came on the back of strong demand for artificial intelligence (AI) cloud and networking products, computing products and other components, it said.

In terms of the first quarter, Hon Hai's accumulated sales reached NT$1.64 trillion, a record high for the quarter.

They were up 24.20 percent year-over-year but down 22.98 percent quarter-over-quarter, according to Hon Hai.

Looking ahead, Hon Hai said the cloud and networking product segment is expected to maintain its growth momentum in the second quarter, which is traditionally considered an off-season as products enter a transitional period.

Operations in the second quarter are anticipated to show both quarterly and year-over-year growth, although the impact of evolving global political and economical situations needs to be further observed, the company explained.