Foxconn Posts Revenue Growth In 3Q18

Foxconn Electronics (Hon Hai Precision Industry) has reported consolidated revenues of USD 1.38 trillion (USD 44.4 billion) for the third quarter of 2018, up 27.6 percent sequentially and 27.7 percent on year.

Foxconn’s September consolidated revenues also increased 47.42 percent on month and 29.69 percent on year to arrive at USD 584.93 billion with combined consolidated revenues for the first nine months of 2018 rising 17.08 percent on year to come to USD 3.48 trillion.

Foxconn pointed out that its consumer electronics business performed the best in September, followed by the computing business and then the communication business.

Some market watchers believe Foxconn’s growing revenues in September were due to the releases of its client’s new OLED smartphones.

The company’s revenues in October and in the fourth quarter are also expected to benefit from the client’s new LCD smartphone.— Digitimes


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