Pegatron has reported net profits fell 40.4% sequentially to NT$5.05 billion (US$164 million) in the first quarter of 2023, when revenue decreased 11% on quarter to NT$318.1 billion.
Revenue from the three main product lines fell, as predicted, compared to the previous quarter due to the impact of the off-season, Pegatron indicated. However, thanks to sustained sales of communication products, the overall revenue decrease was less severe than in prior seasonal declines, said the electronics manufacturing company.
Pegatron's first-quarter represented a slight 2% increase compared to the same period in 2022, however, when net profits surged 80.4% on year.
Pegatron's notebook and other IT device sales fell 37% year on year in the first quarter of 2023. Consumer electronics sales were also down compared to the same period in 2022, while communication products sales grew 8%.
Pegatron previously predicted that notebook and other IT product shipments for the second quarter would be flat compared to the first quarter; consumer product shipments may increase on quarter thanks to customers' new product roll-outs; communication product shipments, including mobile phones, are expected to decrease as the industry enters its traditional off-season; and automotive product shipments will be relatively optimistic.
In related news, Pegatron reported revenue of NT$107.4 billion for April 2023, up 6.1% on month and 43.1% on year, making it the only Taiwanese contract electronics manufacturer to experience sequential and annual revenue increases in April.
Article translated by Jessie Shen
