Foxconn raises Q4 outlook on strong year-end holiday sales

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Taiwan's Foxconn, the world's largest contract electronics maker and a major Apple supplier, on Tuesday raised its outlook for the fourth quarter on strong year-end sales for the holiday peak season.

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05 Dec 2023

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.

Foxconn said in a statement that with the second half of the year being the traditional peak season for the tech industry, revenue performance in the first two months of the fourth quarter had been slightly higher than expected.

«Therefore, the outlook for the fourth quarter should be better than the original guidance for 'significant growth'», the company added, without elaborating.

Foxconn does not provide exact numerical guidance.

The company, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached T$650 billion ($20.65 billion), the second highest on record for the month and up 18% year-on-year,