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Apple Supplier Foxconn Reports 20% Drop in December Revenue

Apple Supplier Foxconn Reports 20% Drop in December Revenue

Posted January 8, 2016 at 4:10pm by iClarified · 8963 views
Apple supplier Hon Hai Precision Industry, which goes by the trade name Foxconn, has reported a 20% drop in revenue for December 2015, reports Reuters. The news comes as analysts and industry sources are predicting slowing shipments of the iPhone 6s.

Analysts said Hon Hai's results could be an indicator of demand for Apple's products in the first quarter of this year, but added that period was not normally a peak selling season and past iPhone cycles had followed a similar pattern, where an interim update on a model edition tends to see slower sales.

Hon Hai's revenue in December was T$409.65 billion ($12.3 billion). That's down over 20% from a year ago and from November. Total revenue for the year was T$4.48 trillion, up 6.42%, but short of the 7% analysts were expecting. The company said that December sales were as expected.

Notably, TSMC, another Apple supplier, also announced that December sales were down on the month and on the year. It's annual growth in sales for 2015 was half that of 2014 when the iPhone 6 launched.

Foxconn is reportedly planning a normal Chinese New Year break, in contrast to past years where workers worked overtime to keep production lines going through the holiday. Previous reports have said that Apple is planning to cut production of its iPhone 6s models by around 30% in the January to March quarter compared to original production plans for the quarter.

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Apple Supplier Foxconn Reports 20% Drop in December Revenue
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