Romanian smartphone producer iHunt posts 40% turnover increase in H1

iHunt, a Romanian producer of smartphones and smart devices, reported a turnover of RON 20.6 mln (EUR 4.2 mln) in the first half of this year, 40% higher compared with the same period of last year and more than double compared with the first six months of 2019. The company's net profit went up by 42% year-on-year to RON 2.67 mln (EUR 544,000).

"iHunt's performance in H1 2021 is all the more valuable as the benchmark market has been facing, in 2021, some of the most serious challenges in transport logistics and at the same time, a significant global semiconductor crisis," commented the company's founder and general manager Cezar Catalin Stroe.

Besides smartphones, iHunt also sells smart home solutions and will launch chargers for electric vehicles in September this year.

"In the near future, we want to bring under the iHunt brand other product ranges with high growth potential," Stroe said.

Despite the strong business and profit growth reported for the first half of this year, iHunt's shares dropped by 9% on the Bucharest Stock Exchange's AeRO market on Wednesday, August 18. However, this correction comes after the HUNT stock has more than doubled its price since the beginning of this year. The stock still has an impressive 764% growth in the last 12 months, being one of AeRO's top performers.

iHunt currently has a capitalization of RON 98.7 mln (EUR 20 mln).

(Photo source: Facebook/iHunt)