Pegatron Q2 profit misses analyst estimates

Net income was NT$1.39 bn ($46 mn) in the three months ended June 30

Pegatron Corp, a maker of devices for Apple Inc and Microsoft Corp, posted second-quarter profit that missed analyst estimates. Net income was NT$1.39 billion ($46 million) in the three months ended June 30, the company said in statement on Monday. That missed the NT$1.72 billion average of 14 analyst estimates compiled by Bloomberg.

Pegatron, which makes Apple's iPad Mini and devices for Dell Inc and Sony Corp, will supply Apple's new low-cost iPhone, according to analysts including Arthur Liao at Fubon Financial Holding Co. The Taipei-based contract electronics manufacturer makes Surface tablets for Microsoft, which last month wrote down the value of unsold inventory and cut prices as the device struggled to lure customers from Apple.

Apple is Pegatron's biggest customer, accounting for 27 per cent of sales, followed by Asustek Computer Inc and Lenovo Group Ltd, according to data compiled by Bloomberg.