Technology
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Foxconn August sales rise 51.98 percent to $29.14 billion
The Hindu BusinessLine··6 Sept
Hon Hai Precision Industry, known as Foxconn, reported August consolidated sales of NT$921.77 billion ($29.14 billion), up 51.98 percent year on year, Focus Taiwan reported. It was the firm's second-highest month after July's NT$946.51 billion ($29.85 billion). Cloud and networking revenue rose on AI demand. January-August sales reached NT$6.51 trillion ($205.32 billion), up 39.73 percent.
Prism
What It Means For You
- Foxconn said third-quarter ICT peak season should keep sales growth momentum going.
- Smart consumer electronics sales rose as clients rebuilt inventories before new product launches.
- Apple supplier Largan Precision posted August sales of NT$5.01 billion ($158.01 million), down 16 percent year on year.
What's Happening
- Foxconn's cloud and networking division logged significant year-on-year growth in August.
- Month on month, cloud and networking and electronics components rose, while smart consumer electronics and computing fell versus July.
- Largan said lenses of 20 megapixels and above made up 10-20 percent of August sales.
AI Servers And iPhone Assembly
- Foxconn is a major iPhone assembler and AI server maker.
- Focus Taiwan said AI applications drove the August jump in consolidated sales.
- Largan expects September sales to rise as peak-season demand and inventory building continue.
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