Foxconn’s July sales drop 1.23% on-year, Q3 outlook better

Taiwan’s Foxconn, the world’s largest contract electronics maker and a major supplier for Apple, said on Saturday revenue in July fell 1.23% year-on-year but forecast a business rebound for the third quarter.

Foxconn, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached T$469.23 billion ($14.82 billion), up nearly 11% from June.