Catcher's strong sales in July hint at iPhone 6 shipments
August 7, 2014, 12:00 am TWN
TAIPEI -- The better-than-expected July sales of Catcher Technology Co., a Taiwan-based casing supplier for Apple Inc., could be linked to initial shipments of components for Apple's next generation iPhone 6, according to a local analyst.
Catcher on Tuesday reported sales of NT$4.644 billion (US$154.6 million) in July, the second highest monthly sales in the company's history.
The market had expected Catcher's sales for the month to post a double-digit decline, but instead they were up 0.3 percent from June and up 36.8 percent from the same month of last year.
Catcher's management said the result was driven by growth in the smartphone segment, while notebook demand remained stable.
“We believe the smartphone strength was driven by earlier than expected iPhone 6 ramp up, largely offsetting weakness seen in the Sony Xperia Z2 and HTC M8,” Jeff Pu, a Taipei-based analyst at Yuanta Securities Co., wrote in a research note Tuesday.
“This also suggests that Catcher remains on track to accelerate its iPhone 6 shipments from July,” he said.
For the July-September quarter of 2014, Pu expected Catcher's sales to grow by 7 percent sequentially based on some contribution from the iPhone 6, weakening orders from HTC and Sony, and stable demand for Apple's MacBook laptop lines.