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Foxconn’s revenue drops for the first time in 10 months

By Cookie Monster - on 11 Jan 2019, 12:03am

Foxconn’s revenue drops for the first time in 10 months

Image source: Foxconn

Foxconn, a key Apple supplier, reported its first revenue drop in 10 months. Its December revenue fell 8.3% to US$20.2 billion. 

A company spokesperson told Reuters that the main reason for the revenue dip is the rather big drop in the consumer category products. However, sales for 2018 went up 12.5% compared to 2017. 

The big drop in the consumer category products is likely caused by the poor sales of the iPhones which also affected another Apple supplier. Apple warned investors last week of weaker-than-expected revenue due to lower iPhone upgrades.

Samsung also estimated that its Q4 revenue would drop 29% due to weak demand for its memory chips from data center customers, growing competition in the smartphone market and a slowdown in the Chinese economy. 

Source: Reuters


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