Foxconn posts decreased August revenue

Foxconn (Hon Hai) Technology Group has reported revenues of NT$400.05 billion (US$14.5 billion) for August 2021, down 4.3% sequentially and 4.9% on year.

Consolidated revenues reached NT$3.52 trillion for the first eight months in 2021 for Foxconn, up 22.1% on year.

Among the key product lines, cloud computing-related products had the best on-month revenue performance in August, followed by smart consumer devices, PCs, and components/others.

In terms of the on-year revenue performance, smart consumer devices took the lead, followed by components/others, cloud computing products and PCs.

Foxconn, at a previous investors meeting, said it expects third-quarter sales to remain flat sequentially, with market observers expecting the company’s September revenues to be driven primarily by the volume shipments of its client’s new smartphones.

Foxconn has also been active in building an ecosystem for the electric vehicle (EV) industry in Taiwan and expects the ecosystem’s demand for semiconductor components to boost sales of Taiwan’s semiconductor supply chain, said company chairman Young-way Liu.

Liu pointed out that the EV industry is currently still facing many issues: batteries still requiring long charging time, insufficient range, and pricey. However, Foxconn believes SiC technologies will be the key to fixing the problems and is now pushing related development hoping to assist its EV clients in design and production. Digitimes