Hon Hai Precision Industry (Foxconn) reiterated its previous estimate of sequential and year-over-year revenue declines for the second quarter.
Foxconn said that certain customers are presently in the transition period between new and old products. In addition, improving material shortages led to an above-average seasonal performance during the first half of last year. Thus, the company is on course to generate revenue decreases on both sequential and on-year bases in the second quarter.
Foxconn reported April revenue grew 7.2% on month to NT$429.22 billion (US$14 billion). Revenue for the first four months of 2023 totaled NT$1.89 trillion, down by a slight 0.14% on year.
Foxconn credited its on-month revenue growth to its smart consumer electronics and computing products segments, with the former posting a double-digit sequential revenue increase. Compared to April 2022, Foxconn saw its four major product lines - cloud and networking products, components and related products, smart consumer electronics, and computing products - all decline slightly.
Foxconn will have an investor conference call on May 11 to discuss its first-quarter performance and present a business outlook. Market and industry observers are all paying close attention to the company's remarks regarding the global economy, the EV market, upcoming iPhone demand, AI server shipments, and the EMS vendor's global deployments.
