{"id":35446,"date":"2023-05-05T08:16:24","date_gmt":"2023-05-05T08:16:24","guid":{"rendered":"https:\/\/lynettelockhart.com\/client\/foxconns-april-sales-fall\/"},"modified":"2023-05-05T08:17:08","modified_gmt":"2023-05-05T08:17:08","slug":"foxconns-april-sales-fall","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/foxconns-april-sales-fall\/","title":{"rendered":"Foxconn’s April sales fall 12% on slowing smartphone business"},"content":{"rendered":"

TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and major iPhone assembler, said on Friday revenue in April fell 11.77% year-on-year due to weakness in smart consumer electronics, and expected business to drop this quarter.<\/p>\n

Foxconn said revenue last month reached T$429.2 billion ($14 billion), in line with the company’s own expectations.<\/p>\n

For smart consumer electronics products, which include smartphones and are the company’s main business driver, revenue in April declined as it entered the “traditional slow season”, the company said in a statement, without elaborating. <\/p>\n

Business in the second quarter is expected to decline due to a high base last year and “the seasonal off-peak period” amid a transition between old and new products, it said.<\/p>\n

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.<\/p>\n

Apple results for the quarter ended April 1 beat expectations on Thursday, thanks to better-than-expected iPhone sales and inroads in India and other newer markets. <\/p>\n

Foxconn will report first quarter earnings on May 11 when it will also give an update on its outlook for the full year.<\/p>\n

The company in March predicted revenue for the full year to be flat, with weak demand for consumer electronics offset by growth in computing, cloud, networking and component products. <\/p>\n

Foxconn shares have risen 5.1% so far this year, lagging the broader Taiwan market, which is up 10.5%.<\/p>\n

($1 = 30.6310 Taiwan dollars)<\/p>\n

\n

(Reporting by Yimou Lee and Sarah Wu; Editing by Toby Chopra and Mark Potter)<\/p>\n

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TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and major iPhone assembler, said on Friday revenue in April fell 11.77% year-on-year due to weakness in smart consumer electronics, and expected business to drop this quarter. Foxconn said revenue last month reached T$429.2 billion ($14 billion), in line with the company’s own expectations. […]<\/p>\n","protected":false},"author":8,"featured_media":35447,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1220],"tags":[],"class_list":["post-35446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-technology"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ4407U-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=35446"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35446\/revisions"}],"predecessor-version":[{"id":35448,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35446\/revisions\/35448"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/35447"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=35446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=35446"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=35446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}