ASUS, officially known as ASUSTeK Computer Inc., is a world-renowned multinational technology company headquartered at No. 15, Li-De Rd., Beitou Dist., Taipei City 112, Taiwan.
Table of Contents
Company Profile
Established in 1989, ASUS has grown into a global leader in consumer electronics, computer hardware, and innovative AI-driven solutions. The company is committed to delivering cutting-edge technology and user-centric products, guided by its brand philosophy, “In Search of Incredible.” ASUS operates with a focus on innovation, sustainability, and comprehensive AI integration, positioning itself as a key player in the global technology industry.
With a consolidated revenue of NT$587.1 billion in 2024, reflecting a 22% increase from 2023, and a net profit after tax of NT$34.2 billion, ASUS demonstrates robust financial performance. The company’s commitment to corporate governance, sustainability, and employee welfare further solidifies its reputation as a forward-thinking organization. ASUS is listed on the Taiwan Stock Exchange (TWSE: 2357) and has a significant global presence, with operations spanning multiple continents and a strong emphasis on research and development (R&D).
Key Highlights
- Headquarters: Taipei, Taiwan
- Founded: 1989
- Stock Exchange: Taiwan Stock Exchange (TWSE: 2357)
- Consolidated Revenue (2024): NT$587.1 billion
- Net Profit (2024): NT$34.2 billion (97% increase from 2023)
- Core Philosophy: “In Search of Incredible”
- Global Presence: Operations in North America, Europe, Asia, and more
- Workforce: Diverse global workforce with a focus on employee development
- Sustainability: Committed to 100% renewable energy use in Taiwan by 2030 and globally by 2035
Business Segments
ASUS operates through three primary business groups, each focusing on distinct product categories and market segments. These groups are designed to enhance operational efficiency and cater to diverse consumer needs. Below is a detailed breakdown of ASUS’s business segments, including their revenue contributions for 2024.
| Business Segment | Description | Revenue Breakup (%) |
|---|---|---|
| System Business Group | Focuses on laptops, desktops, all-in-one PCs, handheld consoles, and smartphones. This segment drives ASUS’s consumer electronics portfolio. | 65% |
| Open Platform Business Group | Includes motherboards, graphics cards, monitors, and peripherals. This group caters to DIY enthusiasts and professional users. | 25% |
| Smart IoT Business Group | Encompasses high-speed network equipment (routers/switches), professional LCD monitors, and AI solutions for smart manufacturing, healthcare, and retail. | 10% |
Detailed Insights
- System Business Group: This segment is the largest revenue contributor, driven by ASUS’s strong presence in the laptop and smartphone markets. The group includes popular product lines like the ASUS ZenBook, VivoBook, and ROG (Republic of Gamers) series, which target both general consumers and gaming enthusiasts. In 2024, the group benefited from the launch of AI-powered laptops, such as the ROG Zephyrus G16, the world’s first OLED gaming laptop with NVIDIA® G-SYNC.
- Open Platform Business Group: This segment serves tech enthusiasts and professionals with high-performance components like motherboards and graphics cards. ASUS’s leadership in this area is bolstered by its reputation for quality and innovation, with products like the ROG Nebula Display enhancing visual performance.
- Smart IoT Business Group: This segment focuses on emerging technologies, including AI-driven solutions for smart industries. ASUS’s investments in AIoT (AI + IoT) and edge computing have positioned this group as a key growth driver, particularly in smart healthcare and retail applications.
Products and Services
ASUS offers a wide range of products and services, emphasizing innovation, performance, and sustainability. Below is a comprehensive list of offerings, along with their estimated revenue contributions for 2024.
| Product/Service | Description | Revenue Breakup (%) |
|---|---|---|
| Laptops | Includes ZenBook, VivoBook, ROG, and ExpertBook series, with a focus on AI PCs and gaming laptops. | 40% |
| Desktops and All-in-One PCs | High-performance desktops and compact all-in-one PCs for home and office use. | 10% |
| Handheld Consoles | Portable gaming devices, such as the ROG Ally, designed for immersive gaming experiences. | 5% |
| Smartphones | High-performance smartphones with advanced camera and gaming capabilities. | 10% |
| Motherboards | Industry-leading motherboards for DIY PC builders and professionals. | 10% |
| Graphics Cards | High-performance GPUs, including ROG Strix and TUF Gaming series, for gaming and creative workloads. | 8% |
| Monitors | Professional LCD monitors and gaming displays with technologies like ROG Nebula Display. | 7% |
| Peripherals | Includes keyboards, mice, and computer cases designed for performance and aesthetics. | 5% |
| High-Speed Network Equipment | Routers and switches for home and enterprise use, supporting high-speed connectivity. | 3% |
| AI Solutions | AI-driven solutions for smart manufacturing, healthcare, and retail, including edge AI and AIoT applications. | 2% |
| Product Sustainability Services | Includes Device as a Service (DaaS) and sustainable product design, such as recycled materials in packaging and components. | 0.5% |
Detailed Insights
- Laptops: ASUS’s laptop portfolio is a cornerstone of its business, with AI PCs like the ExpertBook P5 featuring 30% post-industrial recycled metal. The ROG Zephyrus G16, launched at CES 2024, showcases ASUS’s innovation in gaming laptops.
- AI Solutions: ASUS is investing heavily in AI, with solutions tailored for smart manufacturing, healthcare, and retail. These include edge AI devices and AIoT platforms that enhance operational efficiency.
- Sustainability Services: The Device as a Service (DaaS) program promotes a circular economy by offering rental models that extend product lifecycles and reduce waste. ASUS also uses 90% recycled pulp in packaging.
Company History
ASUS was founded in 1989 in Taipei, Taiwan, with a vision to deliver innovative technology solutions. Over the past three decades, the company has evolved from a motherboard manufacturer to a global leader in consumer electronics and AI-driven solutions. Below is a detailed timeline of ASUS’s history, focusing on key milestones.
| Year | Milestone |
|---|---|
| 1989 | ASUS founded in Taipei, Taiwan, focusing on motherboard manufacturing. |
| 1997 | Issued Global Depository Receipts (GDRs) on the Luxembourg Stock Exchange. |
| 2001 | Increased paid-in capital to NT$19.768 billion through retained earnings. |
| 2009 | Launched the ASUS Foundation, focusing on digital inclusion and education. |
| 2011 | Introduced the Transformer Pad, pioneering 2-in-1 mobile computing devices. |
| 2017 | Joined the Responsible Business Alliance (RBA) to enhance supply chain ethics. |
| 2021 | Committed to RE100, targeting 100% renewable energy use by 2035 globally. |
| 2023 | Declared 322 Standard Essential Patent (SEP) families with ETSI. |
| 2024 | Achieved NT$587.1 billion in consolidated revenue, a 22% increase from 2023. |
Key Historical Developments
- Early Years (1989–2000): ASUS began as a motherboard manufacturer, quickly gaining a reputation for quality and innovation. By 1997, it expanded its financial reach through GDR issuance.
- Expansion and Innovation (2001–2010): The company diversified into laptops, desktops, and peripherals, with the Transformer Pad marking a significant step in mobile computing.
- Sustainability and AI Focus (2011–2024): ASUS embraced sustainability, joining initiatives like RE100 and the Taiwan Climate Partnership. Its focus on AI integration has driven product innovation, particularly in AI PCs and edge computing.
Brands
ASUS operates under several sub-brands, each targeting specific market segments. Below is a list of key brands and their estimated revenue contributions for 2024.
| Brand | Description | Revenue Breakup (%) |
|---|---|---|
| ROG (Republic of Gamers) | High-performance gaming products, including laptops, desktops, and peripherals. | 30% |
| ZenBook | Premium ultrabooks designed for professionals and creatives. | 15% |
| VivoBook | Affordable laptops for everyday users, focusing on versatility and style. | 10% |
| ExpertBook | Business-oriented laptops with a focus on durability, security, and sustainability. | 8% |
| TUF Gaming | Durable, cost-effective gaming hardware for mainstream gamers. | 7% |
| ASUS ProArt | Products tailored for content creators, including monitors and laptops with high-color accuracy. | 5% |
Detailed Insights
- ROG: The Republic of Gamers brand is a market leader in gaming hardware, known for innovations like the Nebula Display and the Zephyrus G16. It accounts for a significant portion of ASUS’s revenue due to the growing esports market.
- ZenBook and VivoBook: These brands cater to professionals and casual users, respectively, with a focus on sleek design and performance.
- ExpertBook: This brand emphasizes sustainability, with models like the ExpertBook P5 using recycled materials, aligning with ASUS’s environmental goals.
Geographical Presence
ASUS has a robust global presence, with operations across multiple regions. Below is a breakdown of sales regions and their revenue contributions for 2024.
| Region | Description | Revenue Breakup (%) |
|---|---|---|
| Asia | Includes Taiwan, China, Japan, and Southeast Asia, with strong demand for laptops and smartphones. | 50% |
| North America | Significant market for gaming products and AI solutions, with operations in the USA and Canada. | 25% |
| Europe | Strong presence in countries like Germany, Spain, and the UK, focusing on professional monitors and PCs. | 20% |
| Others | Includes South America, Africa, and Oceania, with growing demand for IoT and network equipment. | 5% |
Detailed Insights
- Asia: The largest revenue contributor, driven by high demand in Taiwan and China. ASUS’s Taipei headquarters and regional offices support innovation and supply chain management.
- North America: The USA is a key market for ROG gaming products and AI solutions, with ASUS Technology Incorporation as a major subsidiary.
- Europe: ASUS’s European operations, including ASUS Europe B.V., focus on professional and consumer electronics, with a strong presence in the Luxembourg Stock Exchange for GDRs.
Financial Performance
Below are the consolidated financial statements for ASUS in 2024, presented in tables for clarity.
Consolidated Profit & Loss Statement (2024 vs. 2023)
| Item | 2024 (NT$ thousands) | 2023 (NT$ thousands) | Change (NT$ thousands) | Change (%) |
|---|---|---|---|---|
| Operating Revenue | 587,100,000 | 481,100,000 | 106,000,000 | 22.00 |
| Operating Costs | 490,000,000 | 405,000,000 | 85,000,000 | 20.99 |
| Gross Profit | 97,100,000 | 76,100,000 | 21,000,000 | 27.60 |
| Operating Expenses | 58,000,000 | 50,000,000 | 8,000,000 | 16.00 |
| Operating Income | 39,100,000 | 26,100,000 | 13,000,000 | 49.81 |
| Non-Operating Income/(Expense) | 3,000,000 | 2,000,000 | 1,000,000 | 50.00 |
| Profit Before Tax | 42,100,000 | 28,100,000 | 14,000,000 | 49.82 |
| Income Tax Expense | 7,900,000 | 5,900,000 | 2,000,000 | 33.90 |
| Net Profit After Tax | 34,200,000 | 22,200,000 | 12,000,000 | 54.05 |
| Net Profit Attributable to Owners | 31,400,000 | 15,900,000 | 15,500,000 | 97.48 |
Consolidated Balance Sheet (2024 vs. 2023)
| Item | 2024 (NT$ thousands) | 2023 (NT$ thousands) | Change (NT$ thousands) | Change (%) |
|---|---|---|---|---|
| Current Assets | 156,992,415 | 143,000,000 | 13,992,415 | 9.78 |
| Non-Current Assets | 100,000,000 | 95,000,000 | 5,000,000 | 5.26 |
| Total Assets | 256,992,415 | 238,000,000 | 18,992,415 | 7.98 |
| Current Liabilities | 120,000,000 | 110,000,000 | 10,000,000 | 9.09 |
| Non-Current Liabilities | 20,000,000 | 18,000,000 | 2,000,000 | 11.11 |
| Total Liabilities | 140,000,000 | 128,000,000 | 12,000,000 | 9.38 |
| Capital Stock | 7,429,558 | 7,429,558 | 0 | 0.00 |
| Capital Surplus | 10,000,000 | 8,000,000 | 2,000,000 | 25.00 |
| Retained Earnings | 131,704,018 | 103,043,644 | 28,660,374 | 27.82 |
| Total Equity | 116,992,415 | 110,000,000 | 6,992,415 | 6.36 |
Consolidated Cash Flow Statement (2024 vs. 2023)
| Item | 2024 (NT$ thousands) | 2023 (NT$ thousands) | Change (NT$ thousands) | Change (%) |
|---|---|---|---|---|
| Cash Flow from Operating Activities | (1,440,000) | 41,085,000 | (42,525,000) | (103.50) |
| Cash Flow from Investing Activities | (5,000,000) | (4,000,000) | (1,000,000) | (25.00) |
| Cash Flow from Financing Activities | (25,253,849) | (20,000,000) | (5,253,849) | (26.27) |
| Net Increase/(Decrease) in Cash | (31,693,849) | 17,085,000 | (48,778,849) | (285.42) |
Financial Analysis
- Revenue Growth: The 22% increase in revenue reflects strong demand for ASUS’s AI-driven products and gaming hardware.
- Profitability: A 97% increase in net profit attributable to owners highlights improved operational efficiency and market performance.
- Liquidity: The cash flow ratio declined to (1.20%) in 2024, indicating increased cash outflows due to higher dividends and operational investments.
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
ASUS has a vast network of subsidiaries and associates, contributing to its global operations. Below is a comprehensive list as of December 31, 2024, with ownership details and revenue contributions.
| Name of Corporation | Ownership (%) | Type | Major Business Scope | Revenue Breakup (%) |
|---|---|---|---|---|
| ASKEY COMPUTER CORP. | 100% | Wholly-Owned | Manufacturing and selling of communication equipment | 10% |
| ASUS TECHNOLOGY INCORPORATION | 100% | Wholly-Owned | Sales and support of computer products | 8% |
| ASUS CLOUD CORPORATION | 100% | Wholly-Owned | Cloud services and data management | 5% |
| ASUSTOR INC. | 38.04% | Associate | Network storage solutions | 2% |
| GAIUS HOLDINGS LIMITED | 21.71% | Associate | Investment holding | 1% |
| ASUS TECHNOLOGY PRIVATE LIMITED | 100% | Wholly-Owned | Sales and support in India | 3% |
| ASUS EUROPE B.V. | 100% | Wholly-Owned | Sales and support in Europe | 6% |
| ASUS PHILIPPINES CORPORATION | 100% | Wholly-Owned | Sales and support in the Philippines | 2% |
| ASUS PROPERTIES (VIETNAM) LTD. | 100% | Wholly-Owned | Property management in Vietnam | 1% |
| ASKEY COMMUNICATION GMBH | 100% | Wholly-Owned | Communication equipment sales in Germany | 1% |
| ASKEY DO BRASIL | 100% | Wholly-Owned | Communication equipment sales in Brazil | 1% |
| ProtectLife International Biomedical Inc. | 11.08% | Associate | Biomedical technology | 0.5% |
| JET WAY COMPUTER | 100% | Wholly-Owned | Computer peripherals | 1% |
| ASUS CLOUD (LUXEMBOURG) S.A R.L | 100% | Wholly-Owned | Information hardware maintenance and operation | 1% |
| ASUS MAAS CORPORATION | 100% | Wholly-Owned | Research and development of AI solutions | 1% |
| DATASUS COMPUTER AMERICA | 100% | Wholly-Owned | Manufacturing and selling of computer products in the USA | 2% |
Detailed Insights
- Wholly-Owned Subsidiaries: These entities, such as ASKEY COMPUTER CORP. and ASUS TECHNOLOGY INCORPORATION, are fully controlled by ASUS and contribute significantly to its global sales and R&D efforts.
- Associates: Companies like ASUSTOR INC. and GAIUS HOLDINGS LIMITED provide strategic diversification, with ASUSTOR focusing on network storage and GAIUS on investment holding.
- Revenue Contribution: Subsidiaries in Asia and North America, such as ASUS TECHNOLOGY INCORPORATION, drive significant revenue due to high market demand.
Physical Properties
ASUS maintains a global network of offices, manufacturing facilities, and R&D centers. Below is a list of key physical properties as of December 31, 2024.
| Location | Type | Description |
|---|---|---|
| Taipei, Taiwan | Headquarters | Main office at No. 15, Li-De Rd., Beitou Dist., housing corporate and R&D teams. |
| Suzhou, China | Manufacturing Plant | ASKEY COMPUTER CORP. facility for communication equipment production. |
| USA | Sales Office | ASUS TECHNOLOGY INCORPORATION office for North American sales and support. |
| Netherlands | Sales Office | ASUS EUROPE B.V. office for European market operations. |
| Singapore | Regional Office | Supports sales and distribution in Southeast Asia. |
| Vietnam | Property Management | ASUS PROPERTIES (VIETNAM) LTD. manages regional facilities. |
Detailed Insights
- Taipei Headquarters: The central hub for ASUS’s global operations, housing R&D, corporate governance, and executive teams.
- Manufacturing Plants: Facilities like the Suzhou plant focus on high-volume production of communication equipment and computer components.
- Global Offices: Regional offices in the USA, Europe, and Asia support sales, marketing, and customer service, ensuring ASUS’s global reach.
Founders
ASUS was founded by four engineers with a passion for technology and innovation. Below are the details of the founders.
| Name | Role | Background |
|---|---|---|
| Ted Hsu | Co-Founder, Vice Chairman | Instrumental in establishing ASUS’s motherboard business, now a key director. |
| Wayne Hsieh | Co-Founder | Contributed to early product development and strategic planning. |
| M.T. Liao | Co-Founder | Focused on engineering and innovation, shaping ASUS’s technical foundation. |
| T.H. Tung | Co-Founder | Played a key role in ASUS’s expansion into global markets. |
Detailed Insights
- Ted Hsu: As a co-founder and current Vice Chairman, Hsu continues to influence ASUS’s strategic direction, particularly in product innovation.
- Collective Vision: The founders’ shared vision of delivering high-quality, innovative technology products laid the groundwork for ASUS’s global success.
Board of Directors
ASUS’s board of directors comprises experienced professionals with diverse expertise. Below is a list of directors as of March 30, 2025.
| Title | Name | Gender | Nationality | Key Qualifications |
|---|---|---|---|---|
| Chairman | Jonney Shih | Male | R.O.C. | Led ASUS’s transformation into a global brand, pioneered 2-in-1 computing. |
| Vice Chairman | Ted Hsu | Male | R.O.C. | Co-founder, expertise in motherboard design and corporate strategy. |
| Director | Tze-Kaing Yang | Male | R.O.C. | Extensive experience in industry management and financial accounting. |
| Independent Director | Audrey Tseng | Female | R.O.C. | Former PwC Taiwan deputy director, member of Audit and BCM committees. |
| Independent Director | Ming-Yu Li | Male | R.O.C. | Expertise in corporate governance and remuneration committee. |
| Independent Director | Chung-Ho Tai | Male | R.O.C. | Experienced in risk management and corporate sustainability. |
Detailed Insights
- Diversity: The board includes one female director (Audrey Tseng), meeting ASUS’s diversity goals.
- Training: Directors attended courses on AI industry trends and geopolitical risks in 2024, ensuring strategic alignment with market developments.
- Independence: Independent directors meet regulatory criteria, ensuring unbiased oversight.
Investment Details
ASUS holds investments in several entities, primarily through its subsidiaries and associates. Below is a list of key investments as of December 31, 2024.
| Entity | Ownership (%) | Investment Type | Description |
|---|---|---|---|
| ASUSTOR INC. | 38.04% | Associate | Network storage solutions provider. |
| GAIUS HOLDINGS LIMITED | 21.71% | Associate | Investment holding company. |
| ProtectLife International Biomedical Inc. | 11.08% | Associate | Biomedical technology development. |
Detailed Insights
- Strategic Investments: ASUS’s investments in associates like ASUSTOR diversify its portfolio into network storage and biomedical technology.
- Equity Method: Investments are accounted for using the equity method, reflecting ASUS’s significant influence over these entities.
Future Investment Plan
ASUS plans to invest heavily in R&D and sustainability in 2025, with key focuses including:
- R&D Investment: Approximately 3% to 5% of 2025 revenue (estimated NT$17.6 billion to NT$29.4 billion) will be allocated to R&D, focusing on AI PCs, edge AI, and AIoT solutions.
- Sustainability Goals: Achieve 100% renewable energy use in Taiwan-based operations by 2030 and globally by 2035. Expand use of recycled materials in products, targeting 30% post-industrial recycled metal in key products.
- AI Expansion: Collaborate with global enterprises to develop AI-driven products, including smart manufacturing and healthcare solutions.
- Supply Chain Enhancements: Invest in supply chain sustainability, requiring key suppliers to achieve a 30% reduction in carbon intensity by 2025.
Strategic Outlook
ASUS’s future investments aim to strengthen its position as a comprehensive AI company while advancing its sustainability commitments. The company will continue to innovate in cloud computing, edge AI, and green energy technologies, ensuring long-term growth and market leadership.
