Synnex's preliminary consolidated revenue in the third quarter exceeded the 100 billion mark, reaching NT$101.8 billion with an annual increase of 14%. Accumulated revenue for the first three quarters was NT$285.1 billion, a record high over the same period and an annual increase of 22%. Since the fourth quarter is the traditional peak season, coupled with new product launches, and the gradual unblocking of governments to cheer up the commercial market, Synnex is optimistic that business momentum is expected to continue to reach new highs.
Synnex said that this year, except for February with less working days due to the Lunar New Year, its monthly revenue exceeded NT$30 billion, and its business momentum has been increasing. Even with the pressure of tight materials, unsmooth supply chains and rising prices, sales momentum remains quite strong.
From a product perspective, Commercial IT business has increased by 27% annually, setting a new high for three consecutive quarters, and its revenue share has reached a record high of nearly 30%. This is mainly because Synnex has continued to optimize the business operation process in recent years and strengthen the system connection to provide more real-time and accurate market information, making vendors and customers willing to expand cooperation with Synnex. Although the IC Component business is facing tight supply in the market, Synnex has fully played the role of the adjustment hub of the upstream and downstream supply chain to smooth the supply of goods and driving the performance to exceed the 30 billion mark in two consecutive quarters, an annual increase of 29%. For Consumer IT business, gaming/e-sports and PC components still perform double-digit growth, however, due to the continued shortage of laptops and robust demand of the home economy last year, the overall Consumer IT business decreased by 4% annually.
From a regional perspective, all Synnex's BUs, except for Australia and New Zealand affected by the higher base period, reached double-digit annual growth in the third quarter. Indonesia grew by 24%. China grew by 19%, especially for commercial value-added, and consumer electronics/smart devices. And Taiwan grew by 16%, of which IT category hit a new single-quarter high with a growth of 36%.
Looking forward to the fourth quarter, Synnex is optimistic that the market's rigid demand for IT products will continue; and the gradual unblocking of economic activities will also activate the commercial market and the traditional peak season at the end of the year. Coupled with the launch of Windows 11 and the smoother supply of iPhone, Synnex optimistically expects business momentum in the fourth quarter to continue to hit new highs.
