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Falling iPhone sales cut Foxconn’s income the very first time
Taiwanese agreement electronic devices manufacturer Hon Hai Precision business (called Foxconn) records very first revenue fall with its record as a general public company. Bloomberg reported this on Wednesday, January 11, citing products posted regarding the Taiwan stock market site.
In 2021, Foxconn product sales totaled NT $ 4.36 trillion ($ 136.5 billion), down 2.8% from a year earlier on as well as in line with the forecast of many experts polled because of the development company. This is basically the very first drop in Foxconn’s revenue considering that the organization went community in 1991.
At precisely the same time, in December 2021, Foxconn product sales rose by nearly 10% compared to the exact same duration in 2021 (to NT $ 449.63 billion / $ 14 billion) because of a rise in the amount of instructions prior to the New 12 months breaks and popular when it comes to iPhone 7 Plus.
Apple brings Foxconn about 50 % of its revenue, so that the Taiwanese organization’s economic overall performance mostly will depend on Apple electronic devices product sales. IPhone sales declined in each of the first three-quarters of this past year to 45.5 million units in July-September, bringing Apple’s yearly profits down for the first time since 2021.
Analyst at Yuanta Investment asking Vincent Chen estimates sales of Apple smartphones at 207 million products by the end of 2021, while in 2021 these were measured at 236 million devices.