Foxconn Sales Decline Amid Smartphone Slowdown

Posted: Jan 11 2017, 4:40am CST | by , in News | Latest Business News


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Foxconn sales decline amid smartphone slowdown

Foxconn sales take a beating as smartphone sales slow and world economy softens

The name Foxconn is closely tied to the Appel name as Foxconn is the company that actually builds the popular iPhone for Apple. Foxconn reported its first sales decline since the company went public in 1991 on Tuesday. Foxconn reported revenues of 4.356 trillion New Taiwan dollars, which is about $136.38 billion US.

That is a decline of 2.81% from a year ago. Despite the decline on year, the revenue the firm reported for December did grow by 9.76% to NT$449.63 billion with the growth attributed to orders for the approaching Chinese New Year holidays. The growth in December was also attributed in part to the still robust demand for the 5.5-inch iPhone 7 Plus.

Sales declines were much larger for Foxconn rival Pegatron, which assembles the iPhone 7 model. That firm reported a sales decline of 27.43% to NT$85 billion compared to December of the previous year. Foxconn's fortunes are very much tied to Apple and Apple also saw its first revenue decline since 2001.

Foxconn makes 50% of all revenue from Apple. iPhone shipments declined to 207 million units for 2016 compared to 236 million shipments in 2015. Foxconn is predicted to see sales rebound this year to the tune of 5-10% growth on demand for the new iPhone 8 and a slight rebound in the PC market. Foxconn is the largest assembler of desktop PCs in the world.

Foxconn did make a large purchase in 2016 when it acquired Sharp for display technologies. Foxconn hoped to leverage that advanced display tech from Sharp to win more orders from Apple. Foxconn is also reportedly working to build its own smartphone brand to enjoy higher margins on the products.

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
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