3C Vendor Synnex of Taiwan Sees Q3 Revenues Grow 11% QoQ

Taipei, Oct.12, 2012 (CENS)--Driven by simmering sales amid the Oct. 1 holiday in China, Synnex Technology International Corp., Taiwan-based distributor of 3C (computers, consumer electronics and communications) products, witnessed consolidated revenues in September up 4% month on month (MoM) to NT$28.67 billion (US$955.67 million), totaling NT$82.4 billion (US$2.75 billion) in the third quarter with 11% quarter on quarter (QoQ) growth, the second highest in history.

However due to declining domestic demand in China, the firm's consolidated revenues in September dropped 8% year on year (YoY), with revenues in the first quarter decreasing from NT$232.8 billion (US$7.76 billion) in 2011 to NT$229.5 billion (US$7.65 billion) this year.

A representative of Synnex says IT product sales totaled NT$17.1 billion (US$570 million) in September, nearing the historical record set in the same period in 2011, which was NT$17.16 billion (US$572 million).

Synnex saw revenues of communication products slide sharply 47% YoY to NT$3 billion (US$100 million) in September, mainly due to shrinking market share of Nokia Corp.'s mobile phones, and declining ASP (average selling price) per unit.

Revenues of IC devices grew 12% YoY to NT$5 billion (US$166.67 million) in September; while consumer electronics and others combined NT$3.58 billion (US$119.3 million), down 10% YoY.

Third-quarter sales of IT products amounted to NT$46.7 billion (US$1.56 billion), slightly higher than that in 2011, accounting for 57% of revenues, with sales of communication products down 37% YoY to NT$10.9 billion (US$363.3 million), accounting for 13% of overall revenues.

Sales of IC devices totaled NT$14.9 billion (US$496.67 million) in the third quarter, up 13% YoY, accounting for 18% of revenues; while sales of consumer electronics and tablet PCs hit the second highest in history with NT$10 billion (US$333.33 million), up 9% YoY and contributing 12% of overall revenues.