Pegatron’s Q1 Profit Climbed 130%

Pegatron Corp. reported a net profit in the first quarter of the year of NT$6.3 billion ($204.8 million), which represented a year on year increase of 130%. Turnover in Q1 was 25% higher YoY at NT$274.2 billion ($8.9 billion). The company’s strong start to the year was largely due to an order from Apple to assemble the 4.7″ iPhone 6.

Analysts have commented that Pegatron is increasingly challenging Hon Hai Precision in the contract electronics manufacturing sector and is now Taiwan’s second-largest producer. Since 2010 and the launch of the iPhone 4, Apple has gradually been increasing the orders placed with Pegatron and by the end of this year, analysts believe that the company could receive more orders for the next generation iPhone than Hon Hai.

Pegatron has said it plans to invest $300 million increasing production capacity this year, including at its plant in Suzhou, in China’s Jiangsu Province.