FIH Mobile posts higher Q1 revenue and profit as margin-focused overhaul takes hold
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FIH Mobile reported a Q1 revenue of US$1.12 billion, up from US$1.02 billion, and a profit of US$3.07 million, compared to US$1.07 million a year earlier. The company is focusing on product diversification and cost efficiency to improve margins. Total net assets increased to US$1.52 billion, with cash equivalents at US$1.05 billion. Management noted improved gross margins but acknowledged sensitivity to market demand and geopolitical risks. FIH Mobile is a Hong Kong-listed manufacturer in the electronics supply chain, controlled by Hon Hai Precision Industry.
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