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Foxconn revenue falls, company blames a large fall in ‘consumer category products'


Added 01-10-19 08:31:01am EST - “Foxconn revenue for December fell by 8%, reports the iPhone assembler, citing a large fall in demand in the ?consumer product category.' The company didn't get any more specific t?” - 9to5mac.com

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Posted By TheNewsCommenter: From 9to5mac.com: “Foxconn revenue falls, company blames a large fall in ‘consumer category products’”. Below is an excerpt from the article.

Foxconn revenue for December fell by 8%, reports the iPhone assembler, citing a large fall in demand in the ‘consumer product category.’

The company didn’t get any more specific than that, but in the light of Apple’s guidance downgrade for the holiday quarter, reduced demand for iPhones seems the most likely explanation …

Foxconn, formally known as Hon Hai Precision Industry Co Ltd, said in a stock exchange filing that revenue fell 8.3 percent to T$619.3 billion ($20.12 billion) in December.

“The main reason is that the fall for consumer category products was rather big,” a company representative told reporters, explaining the reason for December’s revenue dip.

It may not be the end of the bad news for the company: a fresh report yesterday claimed that Apple is further cutting iPhone production by 10% in the current quarter. A previous report suggested that Apple would be reducing iPhone orders by 4M units this quarter.

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