09.03.2001
Synnex clocking up monthly revenue highs

• Development: PC and handset distribution channel leader, Synnex, saw two consecutive months of revenue highs in July and August. Revenue was NT$4.0bn in July and NT$4.4bn in August, representing 29% and 10% MoM growth, respectively.

• Analysis: July and August sales were boosted by the introduction of Intel’s P4 and newly marketed Motorola V66 cellular phones. PC sales reached 30k units in August. Synnex will start selling handsets to Chunghwa Telecom (2412) in September and expects more orders to come in the near furure.

• Primasia View: We are positive on Synnex’s performance in 4Q01. Maintain Outperform.