Synnex's(2347TW) the first quarter revenue increased 26% YoY, reached the second record high

  Synnex today announced its preliminary consolidated revenue in the first quarter 2021 was NT$86.6 billion, reached the second record high with an increase of 26% from the same period last year.


  Synnex expressed that in the first quarter, the IT market is still in a strong situation, and overall products showed strong growth. As for the stay-at-home economy such as e-sports/gaming kept selling well, and increased by more than 50% YoY. Smart devices, driven by new product launches, grew by 135%. At the same time, mobile phones and tablets increased by nearly 30%, due to the 5G replacement wave and remote communication business opportunities. In addition, the acceleration of digital transformation investment by government/enterprise has driven the growth of the commercial market by more than 20%. However, due to the tight supply of laptops/desktops, the revenue has just been flat compared to last year.


  For Synnex, all regions showed growth in the first quarter. Among them, IC components hit a record high over the same period with 59% growth, and China increased by 26% YoY. Australia and New Zealand grew 14% and reached a record high, continued the momentum of setting a record high in four consecutive seasons last year. Furthermore, Indonesia has gradually relieved from the pandemic impact, and reached a record high with 14% growth. Meanwhile, Taiwan and Hong Kong also experienced double-digit growth.


  Looking forward to the second quarter, Synnex continues to be optimistic about the market momentum, including rigid demand for digital transformation investment from government/enterprise, the upgrade/replacement wave driven by new CPUs and graphics cards, and more mature of new technologies and applications such as 5G, WiFi 6, AIoT. These demands have kept the IT market in a strong situation. Synnex expects to maintain double-digit growth in the second quarter and challenge the new high over the same period.