ASUS Posts $230 Million Net Profits for Q3, Reports Soaring Sales of Nexus 7
Taiwanese company ASUS posted its biggest quarterly profit in more than four years with net profits of $230 million in Q3 2012.
According to the Wall Street Journal (WSJ), this is a 43% jump in earnings compared to $160 million last year. Its gross revenue also rose 9% to $3.8 billion, which is driven by the company's successful line up of mobile computing devices this year.
Gartner's preliminary estimates for the PC market share in Q3 2012 rank ASUS as the fifth largest player in the market as its PC shipments increased by 11.8%. Its tablet devices also contributed to the healthy financial results. ASUS Chief Financial Officer David Chang revealed that sales of the 7-inch tablet are approaching one million units per month.
“At the beginning, it was, for instance, 500K units a month, then maybe 600, 700K. This latest month, it was close to 1 million,” Asustek Chief Financial Officer David Chang told The Wall Street Journal.
The momentum is set to continue in Q4 as ASUS recently introduced a new line-up of products from Android and Windows 8. Joining its Android portfolio of devices are the recently announced 32GB Nexus 7 (Wi-Fi and 3G variants) and the ASUS PadFone 2. ASUS also launched an extensive line-up of Windows 8 devices which include notebooks, tablets and AIOs.