Foxconn, an Apple supplier and major iPhone assembler, said it experienced a decline in revenue in the final quarter of 2023 and expects that trend to continue in the first quarter of 2024.
According to CNBC reportsFoxconn’s revenue in the final quarter of last year reached 1.85 trillion Taiwan dollars (59.7 billion US dollars), which represents a 5.4 percent decline compared to the final quarter of 2022.
Foxconn attributed the decline in its income to weak sales of processing products, smart consumer electronic products, and network-related products. The company’s income in December 2023 (Azer and Day 1402) decreased by 27% compared to the same period of 2022.
Some analysts say that the lackluster sales of the iPhone 15 may have affected Foxconn’s earnings. The financial report of this supplier of Apple is published while the American giant of the technology industry passed a difficult week and its market value fell sharply.
Reports of declining iPhone sales are not new and have been reported several times by various sources in recent months. This year, Apple decided not to change the price of its new generation phones in order to avoid a drop in sales.
