Foxconn Revenue Takes 8% Tumble
Taiwan’s Apple supplier Foxconn posted an 8 percent fall in its December revenue amid tepid demand for electronics.
Foxconn, formerly known as Hon Hai Precision Industry, said in a stock exchange filing that its revenue fell 8.3 percent to T$619.3 billion (A$27.26 billion) in December. It is its first year-on-year monthly revenue dip since February 2018.
“The main reason is that the fall for consumer category products was rather big,” a company representative told reporters.
Foxconn said 2018 sales increased 12.5 percent compared to 2017. Company chairman Terry Gou has said the spat between China and the USA is the biggest challenge the company is facing.