Hon Hai Precision Industry extended its lead as the largest contract electronics manufacturer in the world during the three months ending Sept. 30, posting strong revenue and net income growth, while its main rival reported a loss.
The Taiwanese company, which manufactures gadgets ranging from Sony PlayStation game consoles and Nokia mobile phones to Dell desktop PCs and Apple Computer iPod music players, said Monday that its net income rose to NT$11.1 billion (AUD$445 million as of the end of period being reported), from NT$7.9 billion during the same time a year ago. Revenue in the third quarter increased to NT$164 billion from NT$111 billion.
The company's net income was better than the NT$10.3 billion expected by analysts, according to a poll by Thomson One Analytics.
Hon Hai's earnings in the July through September time period also compare favorably to its main rival, Singapore-based Flextronics International.
Flextronics, which used to be the world's biggest electronics contract manufacturer, turned to a loss of US$2.4 million during the three months ending Sept. 30, from net income of US$92.6 million during the same time last year. Its revenue fell to US$3.9 billion from US$4.1 billion.