Hon Hai reports 2nd highest sales for November

Taipei, Dec. 6 (CNA) The revenue of Taiwan-based manufacturing giant Hon Hai Precision Industry Co. in the first 11 months of 2024 exceeded its sales for all of 2023 after posting sales in November that were the second highest ever for the month.

In a statement Thursday, iPhone assembler Hon Hai said it posted consolidated sales of NT$672.59 billion (US$20.76 billion) in November, down 16.34 percent from a month earlier but up 3.47 percent from a year earlier.

The sales figure was the second highest ever for the month of November, trailing only the NT$681.4 billion in November 2020.

In the first 11 months of 2024, Hon Hai had consolidated sales of NT$6.21 trillion, up 8.87 percent from a year earlier, and more than the NT$6.16 trillion in revenue posted for 2023 as a whole.

On a year-on-year basis, Hon Hai's sales in November benefited from strong demand globally for artificial intelligence servers and other cloud-based items as well as strong demand for new computing products.

It also benefited from an increase in shipments of key components and automotive items, but was hurt by a fall in demand for smart consumer electronics products, Hon Hai said.

Meanwhile, smartphone camera lens maker Largan Precision Co., another Apple supplier, reported consolidated sales in the first 11 months of the year that were up 22 percent from the same period a year earlier to NT$53.81 billion.

The company's consolidated sales in November, however, were down 11 percent from the same month in 2023 to NT$6.01 billion.

The decline for the month, Largan said, came as clients scaled back their orders amid caution in the fourth quarter.

In November, Largan's lenses above 20-megapixel -- which have a higher profit margin -- accounted for 20-30 percent of its total sales.

Lenses of between 10 and 20 megapixels made up 70-80 percent, 8-megapixel lenses represented up to 10 percent of sales, and other products also made up 10 percent, the company said.