Apple provider Foxconn stated it expects first-quarter income to rise greater than 15per cent from a 12 months earlier, boosted by sturdy iPhone gross sales and sturdy demand for electronics throughout lockdowns worldwide to curb the COVID-19 pandemic.
TAIPEI: Apple provider Foxconn stated it expects first-quarter income to rise greater than 15per cent from a 12 months earlier, boosted by sturdy iPhone gross sales and sturdy demand for electronics throughout lockdowns worldwide to curb the COVID-19 pandemic.
The world’s largest contract electronics producer has beforehand forecast sturdy demand for the brand new iPhone 12, saying its enterprise can be supported by “stronger than anticipated” gross sales for smartphones and for telecommuting gadgets amid a coronavirus-induced work-from-home development.
Taiwan-based Foxconn, in a brief assertion on Thursday, stated it expects client electronics income, which incorporates smartphones and good watches, to rise greater than 15per cent within the January-March quarter from a 12 months earlier. It didn’t elaborate.
Foxconn stated it noticed income for cloud merchandise that embody servers and income for computing merchandise akin to laptops to rise about 10per cent within the first quarter, respectively.
Foxconn’s chairman stated final month that he expects his firm and its purchasers will face solely “restricted impression” from a chip scarcity that has rattled the worldwide automotive and semiconductor industries.
Foxconn, formally Hon Hai Precision Business Co Ltd, has beforehand stated it expects income to develop about 10per cent in 2021.
Over the previous 12 months or so it has introduced a number of offers on the manufacturing of electrical automobiles with automakers together with U.S. electric-car maker Fisker Inc, China’s Byton and Zhejiang Geely Holding Group and Stellantis NV’s Fiat Chrysler unit.
Shares in Foxconn have risen greater than 20per cent up to now this 12 months.
Tech-powerhouse Taiwan’s economic system is booming because of the pandemic due to world demand for tablets, computer systems and smartphones.
Taiwan’s January export orders, a bellwether of worldwide know-how demand, surged 49.3per cent from a 12 months earlier to US$52.72 billion.
Taiwan’s authorities final month revised up its outlook for 2021, predicting the economic system will develop at its quickest tempo in seven years, seeing gross home product (GDP) increasing 4.64per cent on the bounce in exports pushed by tech demand.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) the world’s largest contract chip maker, in January posted its best-ever quarterly revenue and lifted income and capital spending estimates to file ranges because it forecast “a number of years of development alternatives”.
(Reporting by Yimou Lee; Enhancing by Susan Fenton)