Thursday , January 28 2021

Apple's largest customer has grown Foxconn



The Taiwanese company's third-quarter revenue rose 27.5 percent to $ 1.38 trillion from last year's 1.08 trillion TWD.

Foxconn Technology Group, an electronics and computer manufacturer with Apple's biggest customer Apple, recorded a profit increase in the third quarter, but recorded less than analysts had predicted.

Officially Hon Hai Precision Industry Co. Ltd. In a quarterly note, Foxconn announced its net profit for the quarter increased by 18.3 percent to 24.9 billion new Taiwan dollars (€ 709.44 million). However, analysts approaching FactSet expected a TWD of 29.3 billion.

Foxconn's earnings in the third quarter were lower due to Apple's iPhone X production delay due to an increase in profits in the last quarter, lower than the benchmark.

The Taiwanese company's third-quarter revenue rose 27.5 percent to $ 1.38 trillion from last year's 1.08 trillion TWD.

Company analysts expect sales in this fourth quarter to support the procurement of XS XS and XS XS XS iPhone components starting to sell at the end of September.

However, uncertainty about further development remains. Some suppliers have said Apple has lowered its initial production forecast for the iPhone XR in the coming months. And economists expect to reduce estimates for the iPhone XS and XS Max.

Apple's stock price fell earlier this week after lowering its sales forecast for Japan Display and Lumentum Holdings in the coming months, out of two key suppliers for the iPhone. None of the companies mentioned Apple.

(1 EUR = 35,098 TWD)

(TAS)


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