{"id":1868136,"date":"2023-03-05T06:12:07","date_gmt":"2023-03-05T11:12:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/foxconn-reports-fall-in-feb-sales-sticks-to-q1-outlook\/"},"modified":"2023-03-05T06:18:52","modified_gmt":"2023-03-05T11:18:52","slug":"foxconn-reports-fall-in-feb-sales-sticks-to-q1-outlook","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/foxconn-reports-fall-in-feb-sales-sticks-to-q1-outlook\/","title":{"rendered":"Foxconn reports fall in Feb sales, sticks to Q1 outlook"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffoxconn-reports-fall-in-feb-sales-sticks-to-q1-outlook%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1868136&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <br \/>\n<?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"entry-content\">\n<p>TAIPEI (Reuters) \u2013     Taiwan&#8217;s Foxconn, the world&#8217;s largest contract electronics maker and major iPhone assembler for Apple, said on Sunday revenue in February fell 11.65% year-on-year due to weakness in smart consumer electronics, but stuck to its first quarter outlook. <\/p>\n<p>The company stated in a statement that revenue last month was still at T$402.0 million ($13.18billion), the second-highest February record. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>After COVID-19 was reintroduced, production of the iPhone was disrupted ahead of Christmas and January&#8217;s Lunar New Year holiday. This happened after thousands of workers were forced to abandon Foxconn&#8217;s Zhengzhou factory. <\/p>\n<p>The revenue fell by 39.12% in comparison to the preceding month. But cumulative sales for both the first and second quarters of 2013 rose on-year 17.94% due to January\u2019s strong performance. This was when Zhengzhou&#8217;s operations got back on track.<\/p>\n<p>Revenue for smart consumer electronics, including smartphones, fell in February year-on-year &#8220;due to conservative customers&#8217; pull-in&#8221;It said so, but didn&#8217;t give any details. <\/p>\n<p>Foxconn produces around 70%, according to analyst estimates. Apple&#8217;s flagship models include the iPhone 14 Pro and the iPhone 14 Pro are produced in Zhengzhou. <\/p>\n<p>&#8220;Based on the revenue performance in the first two months, the outlook for first quarter 2023 is roughly in line with market expectation,&#8221; Foxconn spoke without further explanation. <\/p>\n<p>According to Refinitiv analysts, the growth in first-quarter revenues is expected to be around 4% annually. Taiwan&#8217;s tech companies tend to be quieter in the first quarter. <\/p>\n<p>Apple Inc. last month predicted that its revenues would decline for the second quarter. However, iPhone sales are expected to rise as China&#8217;s production has resumed normal after the COVID-related shut downs.<\/p>\n<p>Foxconn shares rose 2.6% in the first quarter of this year. This is lower than the 10.4% increase on Taiwan&#8217;s broader market.<\/p>\n<p>On March 15, the company will report fourth quarter earnings. It will then provide more information about its outlook. <\/p>\n<p>($1=30.4980 Taiwan dollars)<\/p>\n<\/p>\n<p> (Reporting and editing by Ben Blanchard. Editing by William Mallard. Tom Hogue.<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/foxconn-reports-fall-in\/attachment\/file-photo-the-logo-of-foxconn-is-seen-outside-a-2\/\"><\/a><\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;From <a href=\"https:\/\/www.oann.com\/tech\/foxconn-reports-fall-in\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=foxconn-reports-fall-in\">Foxconn reports fall in Feb sales, sticks to Q1 outlook<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TAIPEI (Reuters) \u2013 Taiwan&#8217;s Foxconn, the world&#8217;s largest contract electronics maker and major iPhone assembler for Apple, said on Sunday revenue in February fell 11.65% year-on-year due to weakness in smart consumer electronics, but stuck to its first quarter outlook. The company stated in a statement that revenue last month was still at T$402.0 million &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1889802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[8859,20604,20605,8932,4564,5219,15275],"class_list":["post-1868136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-fall","tag-feb","tag-foxconn","tag-outlook","tag-reports","tag-sales","tag-sticks"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1868136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1868136"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1868136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889802"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1868136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1868136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1868136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}