iPhone SE propels Foxconn to record April revenue

Iphone Se 2020 Home Button
Iphone Se 2020 Home Button (Image credit: iMore)

What you need to know

  • Foxconn has reported a new April record for revenue.
  • It earned $12.72 billion.
  • The new iPhone SE has helped smartphone demand grow rapidly.

Apple's new iPhone SE has helped propel Foxconn to a record April revenue figure, according to the latest report from DigiTimes.

The report states:

Foxconn Technology Group (Hon Hai Precision Industry) has reported consolidated revenues of NT$380.93 billion (US$12.72 billion) for April 2020, up 9.6% sequentially and 0.3% on year to set a new April record.The company's combined consolidated revenues from January to April in 2020 arrived at NT$1.31 trillion, down 8.74% on year.Among Foxconn's four major business groups, the computing-related group (consisting PCs and tablets) had the best on-month revenue growth in April, followed by the enterprise product group (servers and networking equipment) components, and consumer smart devices.

The report notes that "one of Foxconn's key clients has begun selling a new entry-level smartphone", no doubt referring to Apple and the release of the new iPhone SE. DigiTimes notes that this has caused smartphone demand to grow rapidly and that several market observers have "recently raised their forecast on the smartphone's shipments."

The report also notes however that Apple's postponing of events, and the decision to host WWDC online has caused concerns that Apple's new iPhone 12 lineup, pegged for release later this year, may be delayed, resulting in decreased orders to Foxconn.

Foxconn has also reportedly invested $100 million in its factories in Yantai, China. It is believed that this money will go towards preparation for the production of "a client's next-generation game console", likely a reference to either the Xbox Series X or the Playstation 5.

Stephen Warwick
News Editor

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