Foxconn Rides Holiday Sales Surge: Foxconn, the mammoth electronics manufacturer and a linchpin in Apple’s supply chain, is looking at a brighter fourth quarter, driven by robust sales during the year-end holiday season. This period typically sees a frenetic pace for Taiwanese tech giants like Foxconn as they hustle to meet the demand for smartphones, tablets, and other gadgets, especially from major players like Apple gearing up for the Western holiday spree.
November was a standout month for Foxconn, with reported revenue hitting T$650 billion ($20.65 billion), marking an impressive 18% jump from the same period last year. While this figure dipped by 12.3% from October, the company highlighted notable growth in revenue from smart consumer electronics, particularly smartphones, which showed substantial year-on-year expansion. It’s worth noting that this surge is stacked against a relatively subdued previous year when Foxconn’s main iPhone production hub in China grappled with pandemic-related restrictions.
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Foxconn, a pivotal cog in Apple‘s production wheel, also registered robust year-on-year revenue growth for components and other products in November. This sales vigor follows the company’s unexpected 11% rise in third-quarter profit reported last month, buoyed by gains in non-operating income.
Despite foreseeing a minor dip in overall revenue for the year, Foxconn’s optimistic forecast for the fourth quarter underscores the sustained appetite for electronic devices during the holiday season. As Apple’s primary iPhone assembler, Foxconn’s performance serves as a barometer for broader trends in the tech industry and the resilience of the global supply chain.
Our Reader’s Queries
Why is Foxconn moving out of China?
One of the primary objectives is to broaden the scope of global supply chains for emerging and crucial technologies, thereby decreasing the world’s reliance on Chinese factories. The Foxconn initiative aims to capitalize on India’s expertise in chip design and research, as well as to increase its production capabilities.
Is Foxconn coming to India?
Over the past year, Foxconn has significantly expanded its presence in India by investing heavily in manufacturing facilities located in the southern region of the country. This move has allowed the company to strengthen its foothold in the Indian market and increase its production capabilities.
Is Hon Hai the same as Foxconn?
Hon Hai Technology Group, also known as Foxconn, was founded in Taiwan in 1974. It is the biggest electronics manufacturer globally and a top technological solutions provider. It ranks among the top 30 companies in the Fortune Global 500. In 2022, the company’s revenue reached TWD6.
Who makes iPhones in China?
Foxconn, also known as Hon Hai Technology Group, is a publicly traded company with the native name of ????????????. It is listed on the TWSE as 2317 and on the LSE as HHPDISINTW000231700517.