Foxconn sees strong demand for iPhone 12

Foxconn sees strong demand for iPhone 12

I expected a company (Foxconn) Foxconn, Apple’s major supplier, has made strong demand for the new iPhone 12 in the holidays and has confirmed that it will continue to invest in the US as scheduled and is looking to make new products there.

Foxconn’s planned $ 10 billion investment in Wisconsin did not create enough jobs in 2019 to earn tax credits.

Foxconn said on Thursday: Its investment plan does not depend on the identity of the US president, however, it was exploring the option of building a new product line there.

“We keep going forward in Wisconsin as planned, but the product has to be in line with market demand,” Chairman Liu Young-way said at an investor conference.

He added: There may be a change to the product we make there, he explained Potential new products include those related to servers, communications, and artificial intelligence.

Foxconn announced Thursday Investigation Almost steady earnings in the third quarter, beating market estimates amid strong demand for remote work devices amid the work-from-home trend caused by the Coronavirus.

The calculations showed that the company posted net profits of $ 1.08 billion in the period from July to September.

Chief Financial Officer (David Huang) said: The third-quarter revenue fell 7 percent due to customers delaying product launches.

Liu said the company saw stronger-than-expected demand for both smartphones and servers, with strong shipments of the new iPhone 12 from Apple boosting revenue.

Analysts expect this trend to continue in the coming months, and Foxconn is likely to pool all premium models and 70 percent of others.

The company expects consumer electronics revenue to rise 10 percent in the fourth quarter and also next year.

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

Data released by market research company (IDC) showed that global smartphone shipments fell 1.3 percent compared to the previous year in the September quarter, confirming weak demand during the epidemic.

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