Foxconn Electronics (Hon Hai Precision Industry) has announced consolidated revenues of NT$1.07 trillion (US$34.43 billion) for the second quarter of 2018, rising 4.95% sequentially and 17.03% on year to come to a new historical high. The company's July revenues also increased 1.46% on month and 25.56% on year to come to NT$395.59 billion.

Where things went wrong was the second quarter net profits that took a five year dive. The Digitimes report added that Foxconn "had been accepting orders with weak margins in order to boost its overall revenues and though the strategy had increased the company's revenues, the profits were significantly undermined by issues such as rising passive component prices and high R&D costs for clients' new products.

Meanwhile, Foxconn is seeing expanding losses from its handset-making subsidiary FIH Mobile.

For the first seven months of 2018, Foxconn had combined consolidated revenues of NT$2.5 trillion, up 13.34% on year. For more on this check out the Digitimes report here.

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