Driven by the continued expansion of AI-related applications and a clear recovery in the memory industry starting in the second half of 2025, Synnex's operating momentum strengthened significantly toward year-end. Fourth-quarter consolidated revenue reached NT$125.7 billion, setting a new all-time quarterly record, with quarter-over-quarter growth of 25% and year-over-year growth of 11%. On a constant-currency basis, year-over-year growth would have reached 17%, highlighting a solid rebound in underlying demand.
From the product mix perspective, fourth-quarter growth was primarily supported by memory products, sustained enterprise investment in AI servers and high-performance computing systems, and improving PC demand. Revenue from the Semiconductor segment revenue reached the second-highest level in the company's history, marking a record high for the fourth quarter, rising 39% year over year. Demand for memory, SSDs, and hard disk drives recovered meaningfully, delivering multiple-fold growth. As AI applications continue to scale, demand for high-capacity and high-bandwidth memory has increased sharply. In an environment of relatively tight supply, customer procurement activity remained stable, providing a key underpinning for revenue growth.
In the commercial market, analysts widely observed that AI adoption has expanded beyond cloud service providers to enterprises, government agencies, and educational institutions, leading to a marked increase in system integration and project-based demand. Synnex's Enterprise Solutions Business achieved a record quarterly high in the fourth quarter, with quarter-over-quarter growth of 43%. AI server revenue exceeded NT$10 billion, underscoring the company's growing presence in the enterprise market and the continued maturation of its solutions ecosystem. Consumer markets also showed a synchronized recovery during the quarter, supported by sustained sales momentum from leading smartphone brands and improving demand for PCs and gaming products. As a result, Synnex's Mobile Device and IT Consumer Businesses posted solid sequential growth, with Mobile Device revenue reaching its highest level since 2017, signaling a gradual recovery in consumer confidence.
From a regional perspective, Taiwan delivered the strongest performance, with fourth-quarter revenue increasing 39% year over year, driven by demand for AI servers, enterprise IT investment, and PCs. Indonesia benefited from resilient consumer spending and rising government investment in IT infrastructure, achieving another record-high quarterly revenue and extending its streak to seven consecutive quarters of record performance. Australia and New Zealand saw fourth-quarter revenue reach a record second-highest level, supported by year-end seasonal demand and PC sales. In China, revenue posted notable quarter-over-quarter growth as commercial market demand continued to recover.
For full-year 2025, Synnex reported consolidated revenue of NT$410.6 billion, the third-highest level in its history. On a constant-currency basis, revenue declined only marginally by 1% year over year. The company noted that first-half performance was affected by factors including reciprocal tariffs, a strong New Taiwan dollar, and a high comparison base from the prior year. As these headwinds gradually eased in the second half, operating momentum recovered on a sequential basis. For the full year, both the Semiconductor and Enterprise Solutions Businesses recorded their second-highest revenue levels on record, while the Mobile Device revenue reached its highest level since 2018. Regionally, Australia &New Zealand and Indonesia both achieved record-high annual revenue, reflecting the continued effectiveness of the company's long-term channel development and market expansion strategies.
Synnex stated that the strong fourth-quarter performance clearly demonstrates the effectiveness of its strategic focus on AI-driven applications and higher-value business segments. Looking ahead, the company will continue to deepen regional operations and further increase the contribution of its Semiconductor and Enterprise Solutions Businesses, with the objective of strengthening overall operational resilience and enhancing the quality and sustainability of long-term growth.