Foxconn expects strong holiday sales in fourth quarter, September sales slump
Taiwan's Foxconn, the world's largest contract electronics maker and a major Apple supplier, predicted on Thursday strong year-end holiday sales after September sales dropped, coming off a high base for consumer electronics.
The fourth quarter is traditionally the hot season for Taiwan's tech companies as they race to supply smartphones, tablets and other electronics to major vendors such as Apple for the year-end holiday period in Western markets.
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Foxconn said in a statement that with the second half of the year a «traditional peak season» for consumer tech products, operations «will ramp up sequentially».
«The fourth quarter should see significant growth compared to the third quarter,» it added, without elaborating.
Foxconn beat estimates for second-quarter earnings unveiled in August thanks to a booming artificial intelligence sector but it retained a cautious outlook for this year due to global economic uncertainties.
Foxconn, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached T$660.7 billion ($20.46 billion), down 19.7% year-on-year but soaring 60.1% from August.
Third-quarter revenue dropped 11.7%
