Company Brief :Hon Hai

PHOTO: AGENCE FRANCE-PRESSE

Hon Hai

iPhone assembler Hon Hai Precision Industry's first-quarter revenue jumped 44 per cent on robust demand for Apple's new 5G devices and other gadgets that help consumers stay connected at home during the pandemic.

Revenue in the three months to March rose to NT$1.34 trillion (S$63.1 billion), the Taiwanese manufacturer reported on Tuesday, in line with the average analyst estimate. Sales last month climbed to NT$441.2 billion. The stock jumped as much as 1.6 per cent in Taipei yesterday.

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SK Hynix

SK Hynix, the world's second-largest memory chip maker, is close to signing a long-term deal to provide automotive memory chips to German auto supplier Robert Bosch, South Korean newspapers reported.

The two companies are directly engaged in talks for SK Hynix to supply Bosch with auto memory chips for 10 years or more, Maeil Business Newspaper reported late on Tuesday, citing unnamed industry sources. The reports did not mention financial details.

SK Hynix declined to comment. Bosch did not have an immediate comment.

REUTERS


Policybazaar

Indian online insurance platform Policybazaar is planning to file a draft prospectus as soon as next month for its Mumbai initial public offering that could raise about US$500 million (S$670 million).

A source said yesterday that the SoftBank Group-backed start-up is seeking a listing before the end of this year. An offering, which could value Policybazaar at more than US$3.5 billion, would involve new stocks and secondary shares from existing shareholders. Deliberations are ongoing and details including size and timing could still change, the source said.

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A version of this article appeared in the print edition of The Straits Times on April 08, 2021, with the headline 'Company Brief'. Subscribe