Foxconn Rings Up Higher Q3 Sales on iPhone Demand

TAIPEI -- Foxconn Electronics reported consolidated third-quarter revenues of NT$1.07 trillion ($33.8 billion), up 16.4% sequentially and 0.8% year-over-year.

Consolidated revenues rose 50% in September from the month before as the company took advantage of the debuts of a new round of smartphones, including the Apple iPhone 7.

Revenues for the month reached NT$468.4 billion ($14.8 billion), up 49.8% from August and 1.6% from 2015. Consumer electronics demand was higher, offset in part by flat shipments of PC and communication products.

Year to date revenues are down 3.2% to from a year ago totaled NT$2.95 trillion, decreasing 3.22% from a year earlier.