Foxconn Issues Rare Statement About Orders

Foxconn Electronics (Hon Hai Precision Industry) has issued a statement saying there may be changes to customers’ orders due to market developments.

“Recently there maybe some changes of customers’ orders based on market development. However, there should be limited impact after combining all ups and downs of order flow,” said Foxconn in a statement released through the Taiwan Stock Exchange (TWSE) on Sunday.

It has been rare for Foxconn to issue warnings concerning its order status though the statement did not specify the clients or kinds of orders to be affected.

The company, which is known for making Apple’s iPhones, said it “has built a global manufacturing network and will continue to diversify the portfolios of clients and production locations to meet the customers’ needs and maximum the corporate’s benefit.”

It said it has maintained solid and stable long-term relationships with all major customers and will fimly support them regardless of “the kind of conditions” that happen to them.

Foxconn said it has formed a “dedicated executive team” to closely monitor the latest development of the US-China trade row.

According to Digitimes Research, Apple’s iPhone sales will be undermined by the US-China trade war. Its ODMs have plans to relocate their production capacity for iPhones from China to India. Wistron’s iPhone capacity expansion projects in India are expected to complete in third-quarter 2019 and Foxconn’s newly established plant in India for iPhones is slated for trial and small-volume production in the third quarter.―Digitimes

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