Apple assembler Foxconn sees quarterly revenues surge on high iPhone sales
Apple's main assembly partner, Foxconn, reportedly saw its net income jump 30 percent to $2.3 billion in the December quarter, fueled heavily by the first full quarter of iPhone 7 sales.
The amount is well in excess of the $1.6 billion consensus estimate among analysts, according to Bloomberg calculations. Foxconn is believed to derive about half its sales from Apple, which sold approximately 78.3 million iPhones during the quarter, setting a new record.
Foxconn was also boosted by a recovery at Sharp, which it bought in August and in February turned its first quarterly net profits in two years. Foxconn cut expenses at the firm by consolidating production lines, improving distribution, and taking advantage of new parts procurement abilities. Though it makes other products, Sharp is likewise an Apple supplier, churning out displays.
Foxconn is further said to be doing well in sales of robots and robotic arms. Some of the machines it produces are used at its own factories, replacing human workers.
Citigroup analyst William Yang has suggested that Foxconn revenues could rise as much as 43 percent in the second half of 2017 versus the first as Apple prepares to ship the "iPhone 8." That device should feature a 5.8-inch Samsung OLED screen, with a portion dedicated to a "function area" replacing a physical home button. It may also use wireless charging, 3D facial recognition, and/or iris scanning.
The amount is well in excess of the $1.6 billion consensus estimate among analysts, according to Bloomberg calculations. Foxconn is believed to derive about half its sales from Apple, which sold approximately 78.3 million iPhones during the quarter, setting a new record.
Foxconn was also boosted by a recovery at Sharp, which it bought in August and in February turned its first quarterly net profits in two years. Foxconn cut expenses at the firm by consolidating production lines, improving distribution, and taking advantage of new parts procurement abilities. Though it makes other products, Sharp is likewise an Apple supplier, churning out displays.
Foxconn is further said to be doing well in sales of robots and robotic arms. Some of the machines it produces are used at its own factories, replacing human workers.
Citigroup analyst William Yang has suggested that Foxconn revenues could rise as much as 43 percent in the second half of 2017 versus the first as Apple prepares to ship the "iPhone 8." That device should feature a 5.8-inch Samsung OLED screen, with a portion dedicated to a "function area" replacing a physical home button. It may also use wireless charging, 3D facial recognition, and/or iris scanning.
Comments
Given their multi-month backlog, I imagine those Apple partners are doing well too.
[$$] Foxconn Posts First-Ever Annual Sales Decline as iPhone Sales Lag
Here's the same info, but from a free to read site.
Depressing headline is followed by positive article.
And that WSJ article is bunk because it's behind a paywall & I ain't gonna give a dime to the owner of Fox News.
Also, Foxconn's revenues decline for 2016 came from the first 7 months of the year. Looking at September through this February, when the iPhone 7s would have been the main iPhones being produced, in the aggregate Foxconn's revenues are basically flat YoY.
The point is, the various reports don't necessarily conflict with each other, they're just looking at (or focusing on) different things.
Not sure what the beef is about though, as there is no end of negative Apple articles to choose from any given day. If you were to read 100 stories on Apple from multiple media sources, there might 10 which have a positive theme to them - almost all reference Apple w.r.t. its challenges. Many AI stories have a "con" take to them as you note.
https://www.bloomberg.com/gadfly/articles/2017-03-30/foxconn-has-traders-trust
Secondly, I said nothing about Apple (the company) in my post. My beef as you put it, was me lamenting the fact that Apple Insider has created an impermeable bubble for Apple acolytes to revel in a grotesquely biased and slavishly devoted view of Apple as flawless and unrivaled. If Apple didn't build it, it's crap. If they did, it's perfect. And the same mentality applies to the would-be journalism on this site as well as the colorful commentary accompanying the articles. Positive remarks about Apple are viewed as unassailable scripture, while negative remarks are attacked, the sources are dismissed no matter how reputable, and the writers themselves are often scorned an ridiculed.
Your hyper-sensitivity is manifest in your assumption that I'm attacking Apple, and consequently you adopt a mindlessly defensive position. But your very response betrays the prevailing attitude of this website and probably of many of the participants in these forums - namely, that if you don't have something nice to say about Apple, then you've got nothing to say at all. I find that climate oppressive, and contrary to both the interests of Apple customers and to the health of the company.