January 10, 2018 / 12:29 PM / 5 months ago

Foxconn's Dec sales rise 50 pct y/y

TAIPEI, Jan 9 (Reuters) - Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, posted a 50.2 percent year-on-year rise in revenues for December, it said on Wednesday.

It reported consolidated revenue of T$675.1 billion ($22.84 billion) in December and T$4.7 trillion for January to December, the company said in a filing to the Taiwan stock exchange.

In 2017, the delayed launch of Apple’s iPhone X in November led some analysts to believe suppliers of Apple could reap gains into the early part of 2018.  

However, in December, shares of Foxconn, also formally known as Hon Hai Precision Industry Co ltd, dipped after a Taiwan media report and comments from some analysts suggested demand for iPhone X could come in below expectations in the first quarter of 2018.

Nevertheless, some analysts have retained the view that the March quarter will see significant iPhone shipments.

$1 = 29.5540 Taiwan dollars Reporting by Twinnie Siu and Meg Shen; Editing by Mark Potter

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