Foxconn Technology Group (Hon Hai Precision Industry) has announced first-half 2019 consolidated revenues rose 5.1% from a year earlier to NT$2.22 trillion (US$70.9 billion) with the amount in June increasing 3.2% on month and 1.71% on year to arrive at NT$396.54 billion.
Foxconn generated consolidated revenues of NT$1.16 trillion in the second quarter of 2019, hiking 10.07% sequentially.
In June, Foxconn’s Consumer Electronics business had the strongest on-month revenue growth, followed by the Computing business and then the Communication business.
For the third quarter, some market watchers believe Foxconn’s revenues are expected to pick up thanks to clients’ new smartphones for the second half. However, with demand for smartphones dropping in the past few years and the US trade ban on Huawei remaining mostly in place, the growth may still be limited.
Foxconn has also been implementing Industrial AI (IAI) and Industrial IoT (IIoT) concepts into its existing production lines, looking to cut down costs and improve profitability by increasing the number of its lighthouse factories.―Digitimes