Taiwan’s Foxconn posts 24pc rise in June sales; sets Q2 record

A motorcyclist rides past the logo of Foxconn, the trading name of Hon Hai Precision Industry, in Taipei, Taiwan, March 30, 2018. — Reuters pic
A motorcyclist rides past the logo of Foxconn, the trading name of Hon Hai Precision Industry, in Taipei, Taiwan, March 30, 2018. — Reuters pic

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TAIPEI, July 10 — Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, today said sales rose 24 per cent in June, helping the Apple Inc supplier post its best-ever second-quarter revenue.

Foxconn, formally Hon Hai Precision Industry Co Ltd, in a stock exchange filing said revenue reached T$389.9 billion (US$12.82 billion, RM51.5 billion) in June from T$315.1 billion in the same month a year prior.

The figure is Foxconn’s highest ever for June, and helped the firm set an April-June record, a company representative said on a call with reporters after the announcement, without disclosing the second-quarter figure.

The representative attributed the growth to the consumer electronics, computing and communications sectors.

The result comes as China, a major production base for Foxconn, and the United States, a major market, impose import tariffs against each other.

In June, Chairman Terry Gou said China and the US are engaged in a technology war, not a trade war, describing the impact of the spat as Foxconn’s biggest challenge. — Reuters

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