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Apple cutting the contract for the iPhone 12 mini has shown to have crushed Pegatron's Profit in their latest Financial Report

1 x cover Pegatron

 

A Taiwanese report covered Apple supplier Pegatron's first-quarter financial report on Tuesday. Affected by the severe cut in iPhone 12 mini orders, the profit of the business in a single quarter fell by more than 66%, and the profit rate barely "guaranteed 1 (%)."

 

Pegatron was cut by Apple in the first quarter of this year due to poor sales of the iPhone 12mini, its main OEM model. Its single-quarter revenue fell, a quarterly decrease of 52.6% and a year-on-year decrease of 22.2%.

 

In stark contrast, Bloomberg reported earlier this month that the "iPhone assembler Hon Hai Precision Industry Co.’s posted first-quarter revenue that jumped 44% on robust demand for Apple Inc.’s new 5G devices."  

 

The Taiwanese reported added that "Disposal of Japanese equity investment and the sale of real estate brought more than 1.6 billion yuan of non-industry income. The single-quarter after-tax net profit was 4.673 billion yuan, a quarterly decrease of 2.1%, and the net profit per share was 1.75 yuan, the highest point in the same period in six years.

 

2 Tong Zixian  Chairman of Pegatron

 

According to Pegatron’s financial report, the gross profit margin for the first quarter was 4.3%, a quarterly increase of 1 percentage point, and an annual increase of 2.1 percentage points."

 

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