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Major Taiwan tech companies report 1.97% sales rise in May

Growth slows as consumers await new iPhone launch

Apple enjoyed strong sales of the iPhone 7, right, and the iPhone 7 Plus in the April-June quarter.

TAIPEI -- Sales of leading Taiwanese tech companies, a barometer of global electronic demand, rose slightly year-over-year in May. But revenue growth is still decelerating from previous months, as consumers rein in spending on premium handsets in anticipation of the iPhone 8 range expected to launch in September.

In May, overall sales of the 19 tech companies monitored by Nikkei Asian Review rose 1.97% from a year ago to 779.8 billion New Taiwan dollars ($25.8 billion), with 11 of them generating more revenue than a year ago. The performance was in line with the trade-reliant island's exports that continued to slow last month to only 8% year-over-year, the lowest growth since February.

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