Foxconn sees strong demand for iPhone 12
Foxconn sees strong demand for iPhone 12

Foxconn, Apple's main supplier, has forecast strong demand for the new iPhone 12 for the holiday quarter and has confirmed that the company will continue to invest in the US as planned and manufacture new products in the US. -united.

Foxconn's proposed $ 10 billion investment in Wisconsin will not create enough jobs in 2019 to receive tax credits.

Foxconn said Thursday that its investment plan does not depend on the identity of the president of the United States, but Foxconn is studying options to launch new product lines in the country.

"We will continue to move forward in Wisconsin as planned, but the product must meet market demand," Chairman Liu Yonghui told an investor meeting.

He added: The products we make may change, indicating that potential new products include products related to servers, communications and artificial intelligence.

Given the strong demand for remote work devices and the trend to work from home due to the Coronavirus, Foxconn's third-quarter earnings were nearly unchanged in the third quarter, beating Markt's expectations.

Calculations show that the company posted a net profit of $ 1.08 billion from July to September.

Chief Financial Officer (David Huang) said: “Revenue decreased 7% in the third quarter due to delays in product launches by customers.

According to Liu, the company's demand for smartphones and servers was stronger than expected. Large shipments of Apple's new iPhone 12 boosted sales growth.

Analysts expect this trend to continue in the coming months and that Foxconn will likely integrate all high-end models and 70% of high-end models.

The company expects consumer electronics sales to grow by 10% in the fourth quarter and next year.

Consumer electronics (including smartphones) accounted for 41% of sales in the third quarter, followed by cloud computing devices at 28% and other computing products (such as laptops) at 24%.

Data released by Market Research Corporation (IDC) showed that global smartphone shipments fell 1.3% from the same period last year, confirming weak demand during this outbreak.

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