Foxconn’s April sales fall 12% on slowing smartphone business
Taiwan’s Foxconn, the world’s largest contract electronics maker and major iPhone assembler, said on Friday revenue in April fell 11.77% year-on-year due to weakness in smart consumer electronics, and expected business to drop this quarter.
Foxconn said revenue last month reached T$429.2 billion ($14 billion), in line with the company’s own expectations.
For smart consumer electronics products, which include smartphones and are the company’s main business driver, revenue in April declined as it entered the “traditional slow season”, the company said in a statement, without elaborating.
Business in the second quarter is expected to decline due to a high base last year and “the seasonal off-peak period” amid a transition between old and new products, it said.
The first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple (AAPL.O) launch new products near the year-end holiday season.
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