Foxconn posts 45% revenue surge in 1Q21  

Foxconn Electronics (Hon Hai) has reported consolidated revenues climbed 44.5% on year to NT$1.34 trillion (US$47 billion) in the first quarter of 2021, which came within the company’s guidance range.

Foxconn registered consolidated revenues of NT$441.22 billion for March, up 9.78% on month and 26.91% on year.

Compared to February, Foxconn’s revenues from PC product had the strongest growth in March, followed by those from cloud computing devices, components and consumer electronics. On a yearly basis, revenues from consumer electronics had the best performance, followed by PC products, cloud computing devices and components.

Foxconn chairman Young-Way Liu previously expressed optimism about the company’s financial results for first-quarter 2021 with the company expecting a sequential decline of more than 15% but an on-year increase of over 15% in the quarter’s revenues.

Liu is also optimistic about 2021, but remains cautious about the potential impact from component shortages and the coronavirus pandemic, as components shortfalls already began affecting the IT industry’s overall performance in March.

Liu expects the component shortages will only have a less than 10% impact on Foxconn’s operation in 2021, but the issue is unlikely to ease until 2022. DigiTimes