Foxconn Revenues Up 23%, CE Soars
Taiwanese contract manufacturer, Foxconn, has post a whopping 23.7% year-on-year increase in revenues for June, driven by strong performance from its consumer electronics business.
According to Taiwanese trade publication, DigiTimes, on month consolidated revenues jumped 12.32% in June, to NT$389.89 billion (US$12.69 billion).
Second quarter revenues climbed 5.2% sequentially to NT$1.08 trillion – a notable 17.19% on year increase.
First half consolidated revenues climbed 11.31% on year to NT$2.1 trillion.
Foxconn claims its consumer electronics business post the strongest growth in June, followed by its communications and computing department. Year-on-year divisional growth reflected similar.
The news follows Foxconn’s purchase of electronic accessories manufacturer, Belkin, in March this year.
The whopping US$866 million cash deal is subject to regulatory approval from the ‘Committee on Foreign Investment in the United States’, who has recently scuttled the acquisition of many American firms from foreign investors.
Some commentators question the effect America’s ongoing trade reform has had on the deal’s approval.