Foxconn, the world's largest contract electronics maker and a key supplier for Apple, reported a 9.6% drop in revenue in the first quarter of the year compared to the same period last year. This decline is attributed to a decrease in iPhone sales, particularly in China, where Apple's sales fell by 20% in the first 12 weeks of the year despite large discounts. Other phone brands saw increases, with Vivo and iQOO up 16.9%, Honor up 15.8%, Huawei & Apple at 15.5%, Oppo+OnePlus at 14.7%, and Xiaomi at 14.5%. In response to the slump in orders, particularly from Xiaomi, Foxconn's Bharat FIH campus near Chennai is exploring diversification into new segments. Despite the first-quarter downturn, Foxconn anticipates growth in the second quarter, both quarter-over-quarter and year-over-year, aligning with projections for an 8% rise in sales. The upcoming release of the P70 in a week is expected to impact Q2 negatively.
$AAPL Apple supplier Foxconn posts 9% fall in first-quarter revenue, sees growth ahead - CNBC https://t.co/gKnHg2bgbq
Hon Hai missed revenue estimates in the first quarter after being dragged down by sagging iPhone sales. For the current quarter, Hon Hai expects sales to grow relative to the same period a year earlier — in line with projections for an 8% rise. https://t.co/tjuDu4vEpn
Foxconn Expects Growth in Second Quarter After Higher March Revenue https://t.co/LKWdeKv2eM
Apple supplier Foxconn posts 9% fall in first-quarter revenue, sees growth ahead https://t.co/Zkez6SBRTu
Foxconn Q1 revenue drops 9.6% y/y, sees growth in Q2 https://t.co/nPEAovmmuE https://t.co/BA9mLR8F1t
Hon Hai misses revenue estimates in the first quarter after being dragged down by sagging iPhone sales, especially in China https://t.co/VgkEnVzynJ
⚠️ FOXCONN Q1 REVENUE DROPS 9.6% Y/Y, SEES GROWTH IN Q2 Full Story → https://t.co/pS9nN4xVDn Taiwan's Foxconn, the world's largest contract electronics maker and Apple's biggest iPhone assembler, on Friday reported first quarter revenue fell 9.6% year-on-year, but predicted…
FOXCONN: THE OUTLOOK FOR THE SECOND QUARTER IS FOR EXPECTED GROWTH BOTH QOQ AND YOY
📲📲 @HonHai_Foxconn company Bharat FIH's sprawling campus near Chennai, which was focused on manufacturing Android phones, is looking to tap newer segments in a bid to diversify and offset a slump in orders from its key client @Xiaomi
For AAPL analyst out there China phone sales flat YoY thru 1st 12 wks of yr Apple sales down 20%, others are up 5% Vivo+iQOO 16.9% Honor 15.8% Huawei & Apple 15.5% Oppo+OnePlus 14.7% Xiaomi 14.5% Even large discount hasn't helped iPhones P70 coming out in a wk, Q2 will be worse https://t.co/3snMJlkdBq