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.”

The post Foxconn Forecasts Q3 Rebound Following Sales Drop appeared first on theprimarymarket.com.

One of Apple’s major suppliers, Foxconn assembles the company’s iPhones. Despite the sales decline, the company’s revenue spiked to T$402.0 billion ($13.18 billion); a record for February. This rebound is largely due to the resumption of regular operations at the company’s Zhengzhou campus in China, a center for iPhone production, following the repealing of the country’s Zero Covid policy. Compared to January, revenue declined by 39.12%.

“Based on the revenue performance in the first two months, the outlook for first quarter 2023 is roughly in line with market expectation,” Foxconn stated following the release of its earnings. The company simply stated that its decline in sales was “due to conservative customers’ pull-in” without elaborating further.

So far this year, Foxconn shares have underperformed, rising 2.6% compared with the broader Taiwan market’s rise of 10.4%.

The post Foxconn Reports Decline in February Sales appeared first on theprimarymarket.com.

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.”

The post Foxconn Forecasts Q3 Rebound Following Sales Drop appeared first on theprimarymarket.com.

One of Apple’s major suppliers, Foxconn assembles the company’s iPhones. Despite the sales decline, the company’s revenue spiked to T$402.0 billion ($13.18 billion); a record for February. This rebound is largely due to the resumption of regular operations at the company’s Zhengzhou campus in China, a center for iPhone production, following the repealing of the country’s Zero Covid policy. Compared to January, revenue declined by 39.12%.

“Based on the revenue performance in the first two months, the outlook for first quarter 2023 is roughly in line with market expectation,” Foxconn stated following the release of its earnings. The company simply stated that its decline in sales was “due to conservative customers’ pull-in” without elaborating further.

So far this year, Foxconn shares have underperformed, rising 2.6% compared with the broader Taiwan market’s rise of 10.4%.

The post Foxconn Reports Decline in February Sales appeared first on theprimarymarket.com.