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Foxconn Forecasts Q3 Rebound Following Sales Drop

Taiwanese electronics giant Foxconn reported on Saturday that its revenue for July fell by 1.23% compared to the previous year. The Apple supplier forecasted a business rebound over the third quarter.

Currently the world’s largest electronics manufacturer, Foxconn reported that its revenue for July was T$469.23 billion ($14.82 billion); a nearly 11% rise from June. While a decline from July last year, this total is the second-highest revenue that the company has ever earned for the month of July.

Foxconn reported that it experienced increasing customer interest in its smart consumer electronics products, including smartphones. Compared to the previous year, sales rose by double digits as vendors such as Apple gear up for major product releases later in the year.

“With the second half of the year peak season currently underway, operations will gradually ramp up,” the company confirmed in a statement. “The outlook for the third quarter, which will be better than the second quarter, is expected to increase at an on-quarter pace higher than seen in the previous two years.”

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