Foxconn expects 15 percent profit rise

Stefan Mileschin · 4th March 2021, 14:30

COVID-19 pandemic spin-off

Foxconn said it expects first-quarter revenue to rise more than 15 percent from a year earlier thanks to increased demand for electronics during lockdowns worldwide to curb the COVID-19 pandemic.

Foxconn, in a short statement, said it expects consumer electronics revenue, which includes smartphones and smartwatches, to rise more than 15 percent in the January-March quarter from a year earlier. It did not elaborate.

Foxconn said it saw revenue for cloud products that include servers and revenue for computing products such as laptops to rise about ten percent in the first quarter, respectively.

Foxconn’s chairman said last month that he expects his company and its clients will face only “limited impact” from a chip shortage that has rattled the global automotive and semiconductor industries.

The company expects revenue to grow by about ten percent in 2021.

Over the past year or so it has announced several deals on the production of electric vehicles with automakers including US electric-car maker Fisker Inc, China’s Byton and Zhejiang Geely Holding Group and Stellantis NV’s Fiat Chrysler unit.

Shares in Foxconn have risen more than 20 percent so far this year.

https://fudzilla.com/news/52461-foxc...nt-profit-rise

4th March 2021, 14:30	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,964	Foxconn expects 15 percent profit rise COVID-19 pandemic spin-off Foxconn said it expects first-quarter revenue to rise more than 15 percent from a year earlier thanks to increased demand for electronics during lockdowns worldwide to curb the COVID-19 pandemic. Foxconn, in a short statement, said it expects consumer electronics revenue, which includes smartphones and smartwatches, to rise more than 15 percent in the January-March quarter from a year earlier. It did not elaborate. Foxconn said it saw revenue for cloud products that include servers and revenue for computing products such as laptops to rise about ten percent in the first quarter, respectively. Foxconn’s chairman said last month that he expects his company and its clients will face only “limited impact” from a chip shortage that has rattled the global automotive and semiconductor industries. The company expects revenue to grow by about ten percent in 2021. Over the past year or so it has announced several deals on the production of electric vehicles with automakers including US electric-car maker Fisker Inc, China’s Byton and Zhejiang Geely Holding Group and Stellantis NV’s Fiat Chrysler unit. Shares in Foxconn have risen more than 20 percent so far this year. https://fudzilla.com/news/52461-foxc...nt-profit-rise

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Huawei posts 5.6 percent rise in 2019 profit	Stefan Mileschin	WebNews	0	2nd April 2020 07:54
Cisco sees quarterly profit rise as turnaround works	Stefan Mileschin	WebNews	0	18th February 2018 19:48
Samsung expects to post record operating profit for Q1 2017	Stefan Mileschin	WebNews	0	7th April 2017 07:03
Samsung expects a rise in profit thanks to chips and OLED	Stefan Mileschin	WebNews	0	9th January 2017 05:38
MediaTek expects Q4 revenue to drop 15 percent	Stefan Mileschin	WebNews	0	6th November 2016 06:38
MediaTek expects profits to rise	Stefan Mileschin	WebNews	0	5th May 2016 13:16
Samsung expects big profit jump	Stefan Mileschin	WebNews	0	7th April 2016 16:30
HTC expects to cut 15 percent of workforce in streamlining effort	Stefan Mileschin	WebNews	0	14th August 2015 09:33
HTC expects revenues to jump 63.6 percent in Q2 2013	Stefan Mileschin	WebNews	0	3rd May 2013 07:10
Foxconn expects profits to rise	Stefan Mileschin	WebNews	0	11th May 2012 07:43