Foxconn Expects Sales to Fall as iPhone Doubts Grow
- Company reported a steep decline in December sales on Friday
- Guides for lower results in the current quarter than in 2023
Apple iPhone 15 smartphones on sale at the company's Fifth Avenue store in New York.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Hon Hai Precision Industry Co. warned of its fourth consecutive decline in quarterly sales after a 5.4% slide in the last three months of 2023 suggested consumer electronics demand remains muted.
The Taiwanese firm, also known as Foxconn, reported a steep 27% drop in December sales to NT$460.1 billion ($14.8 billion), concluding a NT$1.85 trillion quarter. It now sees sales falling in the current period as well, adding to concern about the latest iPhone generation’s momentum heading into the new year.