Asustek 1Q profit up 21% on growing tablet demand

Taiwan PC maker Asustek Computer Inc said Monday its first-quarter net profit rose 21 percent year-on-year on growing demand for tablets including its popular Nexus 7 device.

Net profit in the three months to March climbed to Tw$6.05 billion ($202 million), up from Tw$5.01 billion a year ago, Asustek said in a statement.

Sales rose 16 percent to Tw$105.16 billion from Tw$90.91 billion as the company shifted focus from personal computers to touchscreen hybrid laptops and tablets, including the Nexus 7 tablet it manufactures for Google.

Research firm International Data Corporation reported last week that global tablet shipments in the first quarter of the year surged 142.4 percent over the previous year to 49.2 million units, eclipsing the total for the entire first half of 2012.

Apple sold 19.5 million units in the first quarter, followed by Samsung with 8.8 million units.

Asustek came in third with 2.7 million units thanks to its Nexus 7 device, edging clear of Amazon.com with 1.8 million units.

The Taiwanese firm is the world's fifth largest PC producer by shipments.