Apple supplier Foxconn sees June revenue decline
What you need to know
- Foxconn has posted its June revenues.
- It shows a 6.83% decrease sequentially, and more than 9% year-on-year.
- It's likely COVID-19 disruption and the iPhone 12 delay may have been factors.
Apple's main supply chain partner Foxconn has posted decreased June revenues of more than 9% year-on-year.
Earlier this year, Foxconn's profits for Q1 of 2020 slumped by a record 90% to their lowest in two decades. All but wiped out, profits suffered thanks to the COVID-19 pandemic, which in the early part of the year forced Foxconn to shut down its manufacturing operations in China, causing shortages of Apple products worldwide. Revenue in that report was down by 12%, so June's figures may well suggest that whilst they are still lower than expected, things are starting to turn around.
Foxconn recorded a bumper April mainly thanks to Apple's new iPhone SE, however widespread reports of the iPhone 12's delay may impact on revenue and profits in the near future. Foxconn has previously said it expects a 15% decline in smartphone sales this year. Smartphones accounted for 42% of Foxconn's revenue in Q1.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9