{"id":45365,"date":"2023-08-07T08:13:51","date_gmt":"2023-08-07T12:13:51","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/foxconns-july-sales-drop-1-23-y-y-q3-outlook-better\/"},"modified":"2023-08-07T08:13:52","modified_gmt":"2023-08-07T12:13:52","slug":"foxconns-july-sales-drop-1-23-y-y-q3-outlook-better","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45365","title":{"rendered":"Foxconn’s July sales drop 1.23% y\/y, Q3 outlook better"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS\/Dado Ruvic\/Illustration\/File Photo<\/span>
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TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and a major supplier for Apple (NASDAQ:), said on Saturday revenue in July fell 1.23% year-on-year but forecast a business rebound for the third quarter.<\/p>\n

Foxconn, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached T$469.23 billion ($14.82 billion), up nearly 11% from June.<\/p>\n

The company said revenue was the second-highest for the month of July, thanks to “customers’ increasing pull-in” for its smart consumer electronics products, including smartphones. That segment recorded double-digit growth from a year ago, it said, as major vendors such as Apple gear up for new product launches later this year.<\/p>\n

Other businesses, including computing products such as PCs and cloud and networking products, declined from a year ago, the company said, without elaborating. <\/p>\n

“With the second half of the year peak season currently underway, operations will gradually ramp up,” the company said in a statement.<\/p>\n

“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,” it said.<\/p>\n

The first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple launch new products near the year-end holiday season. <\/p>\n

Second-quarter revenue dropped 13.8% year-on-year, in line with the company’s expectations, Foxconn said in July. It reports third-quarter earnings on Aug. 14.<\/p>\n

($1 = 31.6520 Taiwan dollars) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS\/Dado Ruvic\/Illustration\/File Photo TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and a major supplier for Apple (NASDAQ:), said on Saturday revenue in July fell 1.23% year-on-year but forecast a business rebound for the third quarter. Foxconn, […]<\/p>\n","protected":false},"author":1,"featured_media":45366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-45365","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nFoxconn's July sales drop 1.23% y\/y, Q3 outlook better | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: Foxconn logo is seen in this illustration taken, May 2, 2023. 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