Cheng Uei's November Sales Hit Historic High

Taipei, Dec. 15, 2010 (CENS)--Cheng Uei Precision Industry Co., one of Taiwan's leading manufacturers of electronic components, saw November sales hit a historic high to reach NT$6.588 billion due to rising orders from Apple Inc. and Microsoft Corp.

Cheng Uei supplies to Apple earphones and battery chargers, instead of only connectors and cables.

The company has long been making micro projectors to meet demand from Apple, which is expected to embed micro projectors in iPhone 5. In addition, it has bought with NT$300 million 37% stake in Optivision Technology Inc., which is a leading supplier of optical lens for micro projectors and 3D televisions.

Due to hot selling Apple iPhone and iPad and the launch of Microsoft's controller-free Kinect game consoles since the beginning of November, Cheng Uei's November sales grew 6% from the preceding month, surging 56% year-on-year.

A Cheng Uei executive noted Nov. sales would continue to be brisk without labor shortages.

Cheng Uei chairman T.C. Gou noted his company will launch several innovative products with high growth potential in 2011, which will help earnings grow at least 30% year-on-year in 2011.

Thanks to the hot sales of new Apple devices, institutional investors believe Apple will contribute over NT$20 billion to Cheng Uei's total sales in 2011.