Foxconn Reports 8.3% YoY Drop in Revenue for December

Foxconn Reports 8.3% YoY Drop in Revenue for December

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Foxconn reported an 8.3% year over year drop in revenue for December 2018, according to Reuters. In a stock exchange filing, the company revealed total revenue of T$619.3 billion ($20.12 billion) for the month. That's the first year over year revenue dip since February.

For December 2017, the company reported revenue of T$675.1 billion which was a 50% YoY increase.

“The main reason is that the fall for consumer category products was rather big,” a company representative told reporters.

It's likely that the company's shortfall is directly related to Apple's lower than expected performance during the past few months. Earlier this year the company lowered its guidance for the holiday quarter but it has yet to announce final numbers.

Nikkei recently reported that Apple has cut its current production plan
by another 10% suggesting that there are still some difficult times ahead.

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Foxconn Reports 8.3% YoY Drop in Revenue for December

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