In fact, if you read my previous post and Marketwatch article on alternative ways to invest in the smartphone industry, I specifically called out the great results of the Nexus 7 and how it could cause a big jump in revenue and profits for its makers. While I focused on nVidia and others because its difficult to invest in for US investors, Asus clearly stood to gain from it and which it has.
With Nexus 7 now becoming an even better deal with a drop in price and bump in specs, expect it to do well for the shopping season.
From the WSJ:
Asustek has been able to outperform its rivals thanks in part to its partnership with Google Inc. on the popular Nexus 7 tablet and strong demand for its "convertible" product, a tablet that comes with a detachable keyboard.
According to market-research firm Gartner, Asustek posted the third quarter's biggest rise in PC market share, to 7.3%, as its shipments rose 12%. H-P, Dell and Acer all reported lower shipments and market share for the period.
Asustek said in a statement its net profit for the three months ended Sept. 30 was 6.71 billion New Taiwan dollars (US$229.1 million), up 43% from the year-earlier NT$4.68 billion and exceeding the NT$5.41 billion average forecast of 16 analysts polled by FactSet.
Notebook PC shipments in the third quarter were up 14% from the second quarter, to five million units, while tablet shipments nearly tripled, to 2.3 million units from 800,000.
Asustek now expects its fourth-quarter notebook-PC shipments to be up 10% from the third quarter, to 5.5 million units, and tablet shipments to be up 13%, to 2.6 million units.