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Foxconn December revenue dips, first time in 10 months

Reuters  |  TAIPEI 

(Reuters) - Taiwan's Foxconn, a key supplier, reported a 8 percent fall in its December revenue on Thursday, dampening its performance in 2018 amid tepid demand for

Foxconn, formally known as Hon Hai Precision Industry Co Ltd, said in a stock exchange filing that revenue fell 8.3 percent to T$619.3 billion ($20.12 billion) in December.

It is its first year-on-year monthly revenue dip since February.

The revenue performance for December compared to consolidated revenue of T$675.1 billion in December last year, which then represented a 50 percent year-on-year rise.

"The main reason is that the fall for was rather big," a told reporters, explaining the reason for December's revenue dip.

said 2018 sales increased 12.5 percent compared to 2017.

Warning signs about the health of the sector have lingered in recent weeks, with cutting its first quarter revenue forecast and attributing its revenue shortfall primarily to Greater

On Wednesday, reported Apple had reduced planned production for its three new models by about 10 percent for the January-March quarter.

Foxconn's said last year the spat between and the was the biggest challenge the company was facing.

($1 = 30.7800 dollars)

(Reporting by Chyen Yee Lee and Jess Macy Yu; editing by David Evans)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 17:38 IST