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Foxconn is affected by the situation of Apple: revenue down for the first time since February

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Published on Jan 10, 2019

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Foxconn shows the first signs of decline at the financial level, mainly due to the saturation of the market and to the contraction of demand in the consumer electronics industry. The chinese giant said in December 2018 revenue equal to 619,3 million taiwanese dollars (20,12 billion us$), 8.3% less on an annual basis.

And' from last February that the company did not include the minus sign in the entries: in spite of this, sales for the year just ended are, however, increased 12.5 percentage points from 2017. The contraction of Foxconn is closely related to the economic-financial situation of its customers, Apple in the first place.

Only a few days ago the CEO Tim Cook had sent a letter to investors in which he communicated to a downward estimation of revenues in Q1 2019, the fiscal quarter ended December 29, which includes the crucial christmas period. And certainly the commercial battlefield between the USA and China will not help: despite the assurances of Cook - see the interview at the CNBC - the world of finance does not seem to "believe" in the policies implemented by Apple, with HSBC, which has cut for the second time in a short time, his forecasts on revenue and the share price in AAPL.The middle range without compromise? Samsung Galaxy A7 2018, buy it at the best price from Amazon to 265 euro. CLICK HERE TO CONTINUE READING

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