Foxconn sees a 20% quarterly revenue boost thanks to Apple sales demand

Tim Cook at Foxconn (Image credit: Apple)

What you need to know

Foxconn has reported a bumper quarter with a 20% increase in revenue.
Strong demand for Apple devices is thought to be one of the reasons for the solid results.

Apple iPhone assembler Foxconn — also known as Hon Hai Precision — has announced bumper quarterly revenue with a 20% jump, according to a new report. It's thought that strong pandemic demand for Apple and other electronics is behind the boost.

According to a report by Bloomberg and Yahoo! Finance, revenue for the second quarter through June rose "to NT$1.36 trillion ($48.7 billion), the Taiwanese manufacturer reported, versus estimates for NT$1.34 trillion." Strong demand for iPhones is thought to have had an impact.

The strong showing from the world's largest contract electronics maker suggests demand for iPhones, gaming consoles and servers remains robust as consumers snatch up devices for remote work, home-schooling and entertainment needs. Companies are also spending on technology, expanding data-center infrastructure to better serve customers' online activities.

Foxconn will soon be busy building iPhone 13 handsets for Apple, something that will surely provide another strong quarter for the company. Apple is far from Foxconn's only customer, however, and strong sales throughout the industry will be helping Foxconn's bottom line right now.

Apple's iPhone 13 is expected to be announced in September with a launch following shortly after. New high-refresh screens, improved cameras, and a smaller notch are in the cards which will make this the best iPhone to date.

Oliver Haslam has written about Apple and the wider technology business for more than a decade with bylines on How-To Geek, PC Mag, iDownloadBlog, and many more. He has also been published in print for Macworld, including cover stories. At iMore, Oliver is involved in daily news coverage and, not being short of opinions, has been known to 'explain' those thoughts in more detail, too. Having grown up using PCs and spending far too much money on graphics card and flashy RAM, Oliver switched to the Mac with a G5 iMac and hasn't looked back. Since then he's seen the growth of the smartphone world, backed by iPhone, and new product categories come and go. Current expertise includes iOS, macOS, streaming services, and pretty much anything that has a battery or plugs into a wall. Oliver also covers mobile gaming for iMore, with Apple Arcade a particular focus. He's been gaming since the Atari 2600 days and still struggles to comprehend the fact he can play console quality titles on his pocket computer.