Foxconn profits rise 11% following Apple's record setting iPhone 6s launch

Posted:
in iPhone edited November 2015
Apple supplier Foxconn reported better-than-expected third-quarter earnings on Monday, thanks in part to the debut of the new iPhone 6s and iPhone 6s Plus, which have continued to grow sales amid slowdown in the smartphone market.




Foxconn's net profit was up 11 percent to 37.9 billion New Taiwan dollars, or $1.16 billion U.S. A year prior, the company had posted profits of 34.09 New Taiwan dollars.

The profits were ahead of investor expectations, which on average expected Foxconn to post profits of 34.8 billion New Taiwan dollars, according to The Wall Street Journal.

Foxconn is Apple's main assembly partner, responsible for building most iPhone units. Its positive earnings report follows losses posted by Apple rivals LG Electronics, HTC, and even Xiaomi, which posted its first-ever drop in sales for the third quarter.

Apple sold a record 13 million iPhone 6s and iPhone 6s Plus units when the devices launched in late September. That easily topped the 10 million iPhone 6 and iPhone 6 Plus units the company sold in 2014, though this year's debut was aided by a simultaneous launch in China.

Foxconn is hoping to muscle in on more of Apple's business with a potential acquisition of Sharp's LCD business. Sharp's Kameyama plant No. 1 in Japan solely produces displays for Apple's iPhone.

Comments

  • Reply 1 of 8
    Dooooooooomed!™
  • Reply 2 of 8

    Cue the "Market is toying with Apple!  Apple falls on the same news that causes others to rise!" people in 3... 2... 1...

  • Reply 3 of 8
    levilevi Posts: 344member
    jackansi wrote: »
    Cue the "Market is toying with Apple!  Apple falls on the same news that causes others to rise!" people in 3... 2... 1...
    The market has been open for an hour. AAPL up about 1%
  • Reply 4 of 8

    "The beleaguered Cupertino manufacturer..."

  • Reply 5 of 8
    "The beleaguered Cupertino manufacturer..."

    LOL
  • Reply 6 of 8
    sog35 wrote: »
    Now its up less than half a percent.

    Last week based on pure rumor that Apple was cutting orders the stock went down $10.00.
    This week HonHai reports strong orders from Apple for Dec Qtr and the stock is up $0.30
    Pathetic.

    A fake report based on pure speculation moves the stock 3000% more than actually FACTS from a reporting supplier.

    Yes this is the pattern:

    Unsubstantiated rumor or 'analyst feeling'- down $10.

    Objective reality- up $0.30.
  • Reply 7 of 8
    Quote:

    Originally Posted by sog35 View Post

     
    Quote:
    Originally Posted by Levi View Post





    The market has been open for an hour. AAPL up about 1%

     

    Now its up less than half a percent.

     

    Last week based on pure rumor that Apple was cutting orders the stock went down $10.00.

    This week HonHai reports strong orders from Apple for Dec Qtr and the stock is up $0.30

    Pathetic.

     

    A fake report based on pure speculation moves the stock 3000% more than actually FACTS from a reporting supplier.




    I think it would be a very interesting study to have Appleinsider publish a list of these so called analysts data points showing error bars, date, % accuracy and a rating showing how much above/below actual they were (at quarters, years end) -- along with their name and company. 

     

    Lets see how these anal-cysts like looking at one piece of data, predicting gloom & doom (probably to manipulate the market that they could easily profit from).

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