티스토리 뷰
Foxconn, the major supplier
Foxconn's Sales
According to Reuters, Foxconn's February sales reached 402 billion Taiwan dollars, indicating an 11.65% decline from the same period last year. Compared to January's sales, the drop was even more significant, reaching 39.12%. The electronics division, including smartphones, saw a decline in sales as customers exhibited more conservative spending habits.
Foxconn is known to be Apple's largest partner and is responsible for around 70% of all iPhone shipments globally. The Zhengzhou plant in China is one of the most prominent factories producing the latest iPhone 14 line, with around 80% of the production occurring there. The factory had normalized operations in January after a delay due to the strict quarantine policy of 'Zero Corona' at the end of last year, leading to a 48.2% surge in sales compared to the same period in the previous year. However, the trend could not continue into February.
Analysts' Predictions
Despite the downturn, Foxconn stated that the outlook for the first quarter of 2023 is in line with market expectations, without offering a specific explanation. According to Refinitiv, a financial information company, analysts predict that Foxconn's first-quarter revenue will increase by 4% year-on-year.
While sales in February fell compared to the same period last year, cumulative sales in January and February of this year increased by 17.9% compared to the same period last year. It is also worth noting that Q1 is typically an off-peak season for IT device sales.
Impact on Apple
Apple had previously announced that its sales in the fourth quarter of 2022 dropped 5.5% year-on-year, marking the first decline in quarterly sales since 2019. It was the largest decline since September 2016. The company predicted that sales would decrease for two consecutive quarters until the second quarter. However, it expected that iPhone sales would recover as production in China normalized due to China's transition to 'With Corona.'
Conclusion
Foxconn's downturn in sales is a significant concern for the broader tech industry, especially as it is Apple's largest partner. The industry is currently facing a global economic downturn, and it is uncertain how long it will last. However, with analysts predicting a 4% increase in Foxconn's first-quarter revenue, the situation could improve soon. The situation highlights the need for tech companies to remain vigilant and adapt to changes in demand, especially during these challenging times.
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