TAIWAN’S FOXCONN POSTS 24 PERCENT RISE IN JUNE SALES; SETS SECOND-QUARTER RECORD

Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, said sales rose 24 percent in June, helping the Apple Inc supplier post its best-ever second-quarter revenue.

Foxconn, formally Hon Hai Precision Industry Co Ltd, in a stock exchange filing said revenue reached T$389.9 billion ($12.82 billion) in June from T$315.1 billion in the same month a year prior.

The figure is Foxconn’s highest ever for June, and helped the firm set an April-June record, a company representative said on a call with reporters after the announcement, without disclosing the second-quarter figure.

The representative attributed the growth to the consumer electronics, computing and communications sectors.

The result comes as China, a major production base for Foxconn, and the United States, a major market, impose import tariffs against each other.

In June, Chairman Terry Gou said China and the U.S. are engaged in a technology war, not a trade war, describing the impact of the spat as Foxconn’s biggest challenge.

Source: Reuters

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