Foxconn profits fall

Stefan Mileschin · 8th May 2023, 07:28

Could get worse, but not worth flinging yourself off a building over

Foxconn saw its revenue fall 11.77 per cent year-on-year due to weakness in smart consumer electronics and expects business to drop even more this quarter.

Foxconn said revenue last month reached $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 launch new products near the year-end holiday season.

https://fudzilla.com/news/pc-hardwar...n-profits-fall

8th May 2023, 07:28	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,541	Foxconn profits fall Could get worse, but not worth flinging yourself off a building over Foxconn saw its revenue fall 11.77 per cent year-on-year due to weakness in smart consumer electronics and expects business to drop even more this quarter. Foxconn said revenue last month reached $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 launch new products near the year-end holiday season. https://fudzilla.com/news/pc-hardwar...n-profits-fall

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