Foxconn is for Apple very important, as it has been assembling most of the iPhones for many years. Thanks to record financial results AppFoxconn was also expected to be pleased with its earnings, following the company's recently announced earnings. However, its report today surprised most analysts as its second-quarter earnings were sharply lower than expected.
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Specifically, for the period from April to June, the amount is 567,25 million dollars. This is indeed a big drop compared to the average estimate of $711,45 million, which was based on the forecasts of nine analysts. The global state of the smartphone market is certainly to blame. Apple Although it sold more units in the last quarter than in the same period last year, it still fell short of Wall Street's estimate by 500.000 units. However, investors are focusing on other aspects, especially the year-on-year increase in the average price of the iPhone. It increased by 20% to $724. Of course, the most expensive model is mainly to blame iPhone X, which was doing well in sales.
iPhone X will soon see its successor.
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Despite the unflattering result of the last quarter, however, Foxconn can rest easy. Before long, its factories will once again be running at 100 percent production, as it is expected that Apple will present three new iPhone models. And it is Foxconn that should be in charge of assembling all 5.8-inch iPhones with an OLED display, 90% of iPhones with a 6.5-inch OLED display, and roughly 75% of the cheapest model with an LCD display.
Last month, Foxconn factories were already hiring new workers and offering a one-time bonus of $295 to employees.ancwho renew their contracts. So everything is ready and the annual production of new iPhone models can begin again.
