Foxconn expects 3Q20 revenues to grow sequentially

Foxconn Electronics (Hon Hai) expects consolidated revenues for third-quarter 2020 to increase sequentially by less than 10% but decrease on year by over 10%, according to company chairman Liu Young-Way.

For business operation in second-half 2020, servers, electronic components, semiconductor product lines consisting of services for equipment and processes, IC design, IC packaging and testing as well as automotive components are the major sources of business growth, Liu said at an August 12 investors confernece.

Second-quarter 2020 consolidated revenues reached NT$1,128.337 billion (US$38.25 billion), with consumer electronics and smart devices accounting for 36%, cloud computing and networking products for 30%, PCs and other computing products for 27%, and components and others for 7%. DigiTimes