Apple Supplier Hon Hai (Foxconn) breaks November Revenue Record due to iPhone 12 and is on Target for Record Year
It's being reported in Taiwan today that Hon Hai’s performance in the fourth quarter recorded a record high. Today’s intraday stock share price rose 4.82% on the news.
Hon Hai has since concluded its consolidated revenue of NT$681.375 billion (approx.. US$24 Billion) in November, a record single-month high.
An authoritative insider pointed out that in November, Hon Hai continued to benefit from Apple’s new 5G version of the iPhone’s strength in assembly and sourcing. It assessed that Hon Hai is the exclusive assembly OEM supplier for the iPhone 12 Pro and iPhone 12 Pro Max, and is also the main assembly foundry for the iPhone 12. In addition, server products are assembled Goods look good, and game console assembly shipments grow.
Observing the fourth quarter, as the pricing strategy and specifications of the new 5G version of the iPhone are in line with market expectations, the authoritative insider pointed out that Hon Hai’s operations in the fourth quarter benefited from the new 5G version of iPhone assembly and sourcing strength.
It is expected that Hon Hai’s overall performance in the fourth quarter is expected to exceed NT$1.8 Trillion yuan, a quarterly increase of nearly 40% compared to the 1.29 trillion yuan in the third quarter. It has the opportunity to challenge the historical single-season high.