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Apple's products, largely manufactured in China, have so far
been spared from U.S. import tariffs, but it could be put in the
crosshairs of the escalating trade dispute as Washington has
threatened to expand the tariffs to almost all goods from China
including iPhones.
Foxconn, formally known as Hon Hai Precision Industry Co Ltd,
said in a stock exchange filing that revenue rose 30 percent to
T$584.93 billion ($18.8 billion) in September, extending a
streak of double-digit growth since May.
The strong monthly result, its second best ever, brings
Foxconn's both nine-month and third-quarter revenues to record
highs, a company official told reporters.
"This time, the three biggest product lines in terms of
month-on-month and annual increase comes in this order:
consumer, computing, and communications," the official said,
without elaborating what the categories consist of.
Caught in the middle of the intensifying trade dispute, the
world's largest contract electronics manufacturer warned in June
that the spat between China and the United States was the
biggest challenge it was facing.
China is a major production base for Foxconn, while the United
States is a key market for the manufacturer.
Shares in Foxconn closed down 6.9 percent on Thursday, versus a
6.3 percent drop in the wider market that came under pressure
after Wall Street faced its worst drubbing in eight months
overnight.
Last month Apple introduced its largest-ever iPhone and a watch
that detects heart problems in an attempt to get customers to
upgrade to more expensive devices amid stagnant global demand
for smartphones. It reports the September quarter results on
Nov. 1.
($1 = 31.0890 Taiwan dollars)
(Reporting by Jess Macy Yu and Hong Kong slot team; Editing by
Miyoung Kim and Himani Sarkar)
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