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Fоxconn annual revenue fell for the first time since 1991 amid falling iPhone sales

Revenue of Foxconn Technology Group, contract manufacturer and assembler of Apple smartphones, fell for the first time since 1991, after the company IPO. Reported by analysts from Nikkei, citing financial report of the company.

In 2016 revenue Foxconn was 4.36 trillion new Taiwan dollars ($136,38 billion), a decrease of 2.81% compared to the year 2015. Analysts attribute the Nikkei falling revenues General decrease in demand for the iPhone last year. In particular, in January 2016, Apple has reduced production of iPhone 6s and iPhone 6s Plus 30%.

At the same time, sales in December 2016, by contrast, has grown by 9.76% against December 2016 — up to $14,01 billion sales Growth observers linked to the approaching Chinese New year and the sales growth of the iPhone 7 and iPhone 7 Plus, the Assembly of which is carried out under contract by Foxconn.

Earlier, in October 2016, it became known that the annual revenue of Apple fell for the first time since 2001. Annual sales volume fell from a record $234 billion in the 2015 financial year to $216 billion in 2016.

In late December, the newspaper Nikkei reported that Apple in 2017 will reduce the production of iPhone 7 and 7 Plus 10%. The publication came to the conclusion that the reduction will occur in the first quarter. These calculations are based on information on the production and sales of the latest models of smartphones.

The main collectors are iPhone Foxconn and its main competitor Pegatron.

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