Foxconn’s July sales decline by 1.23% YoY, but Q3 outlook improves.

Taiwan’s Foxconn Forecasts Business Rebound in⁤ Third Quarter

Taiwan’s Foxconn, the world’s largest contract electronics maker and ‌a major supplier ⁤for Apple, reported⁣ a 1.23% year-on-year decline ⁣in revenue for ​July. However,⁢ the company ​expects a rebound in the third ⁢quarter.

Revenue for last month reached T$469.23 billion ($14.82 billion), marking an ⁤almost 11% increase from June.

The ⁢company attributes the⁣ second-highest revenue for July to the growing demand for its smart consumer electronics products,⁢ including smartphones. This segment experienced double-digit growth ​compared to the previous year,‌ as major​ vendors⁣ like Apple prepare ⁢for upcoming product launches.

However, ⁤other businesses such as computing products and ​cloud and​ networking products declined without further explanation.

In a statement, ⁤Foxconn expressed optimism ‌for the third quarter, expecting it to outperform the previous⁢ two years. The company anticipates a gradual ramp-up in operations during the peak season of the second half of the ⁣year.

Traditionally, the ⁤first half of the ⁤year is slower for Taiwan tech manufacturers,‍ with major electronics ⁢vendors like Apple launching ‌new products closer to the year-end ‌holiday season.

In July, ‌Foxconn reported a 13.8% ⁣year-on-year drop‍ in second-quarter revenue, which​ was in line with their expectations. The ‌company will release its third-quarter earnings ‍on Aug. 14.

($1 = 31.6520 Taiwan ⁤dollars)

(Reporting By Yimou Lee)

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