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Foxconn's Dec sales rise 50% y-o-y

[TAIPEI] Taiwan's Foxconn, the world's largest contract electronics manufacturer, posted a 50.2 per cent year-on-year rise in revenues for December, it said on Wednesday.

It reported consolidated revenue of NT$675.1 billion (S$30.47 billion) in December and NT$4.7 trillion for January to December, the company said in a filing to the Taiwan stock exchange.

In 2017, the delayed launch of Apple's iPhone X in November led some analysts to believe suppliers of Apple could reap gains into the early part of 2018.

However, in December, shares of Foxconn, also formally known as Hon Hai Precision Industry, dipped after a Taiwan media report and comments from some analysts suggested demand for iPhone X could come in below expectations in the first quarter of 2018.

Nevertheless, some analysts have retained the view that the March quarter will see significant iPhone shipments.

REUTERS

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