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Foxconn Forecasts Q3 Recovery After July Sales Drop-Off

The world’s biggest contract electronics maker saw sales fall 1.23% year on year last month as PC, cloud and networking products’ demand declined

The Foxconn logo is seen outside its building in Taipei (Rs)
The Foxconn logo is seen outside its building in Taipei. Photo: Reuters


Taiwan’s Foxconn says revenue in July fell 1.23% year-on-year but forecast it will bounce back in the third quarter.

The world’s largest contract electronics maker, and a major supplier for Apple, said revenue last month reached T$469.23 billion ($14.82 billion), up nearly 11% from June.

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.


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Other businesses, including computing products such as PCs and cloud and networking products, declined from a year ago, the company said, without elaborating.

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

“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.

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.

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 August 14.


  • Reuters with additional editing by Sean O’Meara


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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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