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Foxconn, the largest customer of Apple, grew up



Taiwan's revenue rose by 27.5% in the third quarter, to TWD 1.38 trillion, up from last year's 1.08 trillion TWD.

Foxconn Technology Group, an electronics and computer manufacturer with the largest customer base in Apple Apple, has achieved a third-quarter gain, but less than analysts.

Foxconn, officially known as Hon Hai Precision Industry Inc., announced on Tuesday that its net profit increased by 18.3% to 24.9 billion new Taiwan dollars (709.44 million euros) at the end of September. But analysts approached by FactSet projected 29.3 billion TWD gains.

However, due to the growth in profit for the last quarter, it is lower than the benchmark because Foxconn's third-quarter earnings were negatively affected by the Apple iPhone production delay.

Taiwan's revenue rose by 27.5% in the third quarter, to TWD 1.38 trillion, up from last year's 1.08 trillion TWD.

According to analysts, fourth-quarter sales are likely to support XS XS and XS XS XS iPhone components, which began in late September.

But the uncertainty of further development remains. Some suppliers said Apple lowered the initial iPhone XR forecast in the coming months. Economists expect to lower the iPhone XS and XS Max forecasts.

Apple's stock price dropped at the beginning of the week as two key suppliers for iPhones, Japan Display and Lumentum Holdings, lowered their sales forecasts in the coming months. None of those companies mentioned Apple.

(1 EUR = 35 098 TWD)

(TASR)


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