Foxconn Posts Its First Ever Annual Sales Decline Due to 'Lukew - GSMPioneer
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Old 01-11-2017, 01:00 PM   #1
Mang Jun
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Default Foxconn Posts Its First Ever Annual Sales Decline Due to 'Lukew

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Foxconn has posted its first ever annual sales decline since going public due to lukewarm demand from Apple and a saturated smartphone market, reports Nikkei.

For 2016, Foxconn posted revenues of 4.356 trillion New Taiwan dollars ($136.38 billion), down 2.81% from a year ago. The company's December revenue, however, grew 9.76% year-on-year to NT$449.63 billion thanks to orders for the approaching Chinese New Year holidays and the relatively robust demand for the 5.5 inch iPhone 7 Plus model.

Pegatron who assembles the iPhone 7 model, posted a 27.43% drop in December revenues year over year to NT$84 billion.

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