Foxconn expects electronics sales to fall

Stefan Mileschin · 16th August 2023, 07:04

Apple supplier sees profits slow

Apple supplier Foxconn reported a one per cent drop in second-quarter net profit, as global economic woes hurt demand for smart consumer electronics.

The Taiwanese company, the world's largest contract electronics maker, said net profit for the April-June quarter slipped to $1 billion from the same period the previous year.

It was better than what the cocaine nose jobs of Wall Street were predicting but might indicate that Apple is not out of its funk yet.

Foxconn said it expected revenue for its smart consumer electronics products to slightly decline year on year in the third quarter. That group includes smartphones and makes up about half of Foxconn's total revenue.

Overall revenue for the third quarter would also fall slightly, the Taiwanese company said, downgrading its outlook for full-year revenue to a slight decline from previous guidance for coming in flat.

https://fudzilla.com/news/57412-foxc...-sales-to-fall

16th August 2023, 07:04	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,769	Foxconn expects electronics sales to fall Apple supplier sees profits slow Apple supplier Foxconn reported a one per cent drop in second-quarter net profit, as global economic woes hurt demand for smart consumer electronics. The Taiwanese company, the world's largest contract electronics maker, said net profit for the April-June quarter slipped to $1 billion from the same period the previous year. It was better than what the cocaine nose jobs of Wall Street were predicting but might indicate that Apple is not out of its funk yet. Foxconn said it expected revenue for its smart consumer electronics products to slightly decline year on year in the third quarter. That group includes smartphones and makes up about half of Foxconn's total revenue. Overall revenue for the third quarter would also fall slightly, the Taiwanese company said, downgrading its outlook for full-year revenue to a slight decline from previous guidance for coming in flat. https://fudzilla.com/news/57412-foxc...-sales-to-fall

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Foxconn profits fall	Stefan Mileschin	WebNews	0	8th May 2023 06:28
VW expects EVs to represent half of its vehicle sales by 2030	Stefan Mileschin	WebNews	0	14th July 2021 07:21
Foxconn expects 15 percent profit rise	Stefan Mileschin	WebNews	0	4th March 2021 14:30
Samsung Electronics warns coronavirus will damage consumer sales	Stefan Mileschin	WebNews	0	19th March 2020 15:10
TSMC expects 10 per cent of sales to be 7nm	Stefan Mileschin	WebNews	0	19th October 2018 15:03
Nintendo expects Switch will beat Wii U lifetime sales in a year	Stefan Mileschin	WebNews	0	31st October 2017 05:18
Acer expects 10 to 15 percent drop in notebook sales	Stefan Mileschin	WebNews	0	20th February 2013 06:42
Foxconn expects profits to rise	Stefan Mileschin	WebNews	0	11th May 2012 07:43
Lite-On Expects Huge Growth in SSD Sales, in 2012	Stefan Mileschin	WebNews	0	3rd February 2012 06:38
Foxconn Electronics May Become World’s Largest Maker of Mainboards	jmke	WebNews	0	3rd January 2008 14:36