Foxconn posts flat revenue growth in 2Q21

Foxconn (Hon Hai) Technology Group saw its revenues amount to NT$1.36 trillion (US$48.65 billion) in the second quarter of 2021, up a slight 0.7% sequentially.

Foxconn reported consolidated revenues of NT$401.62 billion for June, down 11.74% on month, but up 11.4% on year, while the amount for the first six months of 2021 was up 31.21% on year to NT$2.7 trillion.

Foxconn pointed out revenues from the cloud computing/networking, and the component/others businesses performed better than those of the PC and consumer electronics businesses on a monthly basis.

However, on a yearly basis, the consumer electronics business had the strongest growth in revenues, followed by the PC business, the component/other business and the cloud computing business.

Although the consolidated revenues were the highest for the month of June, they were the lowest monthly level in 2021 as Foxconn’s smartphone orders slowed down ahead of clients’ releases of new models, according to industry sources.

With clients’ new smartphones ready to launch in the third quarter and demand for cloud computing networking devices to start picking up, Foxconn’s revenues are expected to turn robust in the quarter.

Of a US-based client’s smartphone orders for the second half of 2021, Foxconn will be handling the assembly of a 6.7-inch top-of-the-line models, while a 5.4-inch model will be solely produced by Pegatron, according to some market observers. One of the two 6.1-inch handsets will be shared between Foxconn and Pegatron, while the other one between Luxshare and Foxconn, the observers have revealed. Digitimes