Latest news with #HonHaiPrecisionIndustryCo
Mint
05-07-2025
- Business
- Mint
Foxconn Q2 Update: Chipmaker sees 16% jump in revenue on AI product demand, flags THESE risks going ahead
Foxconn Q2 update: Taiwan-based Foxconn or Hon Hai Precision Industry Co earned record revenue in the second quarter, driven by high demand for artificial intelligence products, while also warning about potential challenges from geopolitical issues and exchange rate fluctuations, reported news agency Reuters. The revenue of the world's largest contract electronics maker has surged 15.82% on a year-on-year basis to T$1.79 trillion, according to a company statement, cited by the agency. The company beat the T$1.7896 trillion LSEG SmartEstimate. Foxconn, Apple iPhones' largest assembler in the world and leading clients such as chipmaker Nvidia, stated that rising demand for AI-driven products has contributed to strong revenue growth for its cloud and networking products division. However, smart consumer electronics, including iPhones, reported 'flattish' year-on-year revenue growth impacted by exchange rates, the agency quoted the company. Foxconn's revenue for June jumped 10.09% year-on-year to T$540.237 billion, a record high for the month. Foxconn stated it expects growth this quarter compared to the previous three months and the same period last year, but also warned about possible risks to growth. "The impact of evolving global political and economic conditions and exchange rate changes will need continued close monitoring," Reuters quoted Foxconn. Notably, US President Donald Trump announced he had signed letters to 12 countries, detailing the tariffs they would face on exports to the US. These "take it or leave it" offers are scheduled to be sent out on Monday. Foxconn operates the world's largest iPhone manufacturing plant in Zhengzhou, China. The tech giant has not released numerical forecasts. It will report full second-quarter earnings on August 14. Foxconn's shares surged 76% last year, significantly outpacing the Taiwan market's 28.5% increase. However, they have decreased by 12.5% so far this year, due to broader pressures on tech stocks amid Trump's trade policies, the report said.
Mint
05-07-2025
- Business
- Mint
Foxconn Q2 Results: Chipmaker sees 16% jump in revenue on AI product demand, flags THESE risks going ahead
Foxconn Q2 results: Taiwan-based Foxconn or Hon Hai Precision Industry Co earned record revenue in the second quarter, driven by high demand for artificial intelligence products, while also warning about potential challenges from geopolitical issues and exchange rate fluctuations, reported news agency Reuters. The revenue of the world's largest contract electronics maker has surged 15.82% on a year-on-year basis to T$1.79 trillion, according to a company statement, cited by the agency. The company beat the T$1.7896 trillion LSEG SmartEstimate. Foxconn, Apple iPhones' largest assembler in the world and leading clients such as chipmaker Nvidia, stated that rising demand for AI-driven products has contributed to strong revenue growth for its cloud and networking products division. However, smart consumer electronics, including iPhones, reported 'flattish' year-on-year revenue growth impacted by exchange rates, the agency quoted the company. Foxconn's revenue for June jumped 10.09% year-on-year to T$540.237 billion, a record high for the month. Foxconn stated it expects growth this quarter compared to the previous three months and the same period last year, but also warned about possible risks to growth. "The impact of evolving global political and economic conditions and exchange rate changes will need continued close monitoring," Reuters quoted Foxconn. Notably, US President Donald Trump announced he had signed letters to 12 countries, detailing the tariffs they would face on exports to the US. These "take it or leave it" offers are scheduled to be sent out on Monday. Foxconn operates the world's largest iPhone manufacturing plant in Zhengzhou, China. The tech giant has not released numerical forecasts. It will report full second quarter earnings on August 14. Foxconn's shares surged 76% last year, significantly outpacing the Taiwan market's 28.5% increase. However, they have decreased by 12.5% so far this year, due to broader pressures on tech stocks amid Trump's trade policies, the report said. On Friday, Foxconn shares closed down 1.83% before the revenue data release, compared with a 0.73% fall of the benchmark index.
India Today
10-06-2025
- Business
- India Today
India emerges as Apple's new bet, but China and Trump raise red flags: Report
Apple and its main manufacturing partner, Hon Hai Precision Industry Co. (better known as Foxconn), are continuing to back India, reported week, Foxconn announced a fresh $1.5 billion investment in its Indian operations, offering some reassurance to officials in New Delhi. This move may ease tensions in New Delhi that began when Donald Trump publicly stated he told Tim Cook not to expand Apple's manufacturing in India, casting doubt on hopes that most iPhones for the US would be made in India by has been steadily building its manufacturing base in India, but two powerful leaders, US President Donald Trump and China's Xi Jinping, may now pose unexpected this, Apple's India journey is already well underway. Foxconn is reportedly building a huge new campus in India that will employ 30,000 people. Meanwhile, Tata Electronics has begun assembling the upcoming iPhone 16 in its South Indian shift to India has brought visible results. In the past year alone, the value of Apple products made in India has jumped 60% to $22 billion. Of this, over $17 billion worth of iPhones are exported. Thanks to Apple, India now earns more from electronics exports than from its famous pharmaceutical after a deadly 2020 border clash with China, India made careful adjustments to its policies, allowing Apple's China-based contractors to operate in India without much moving an entire supply chain is no simple task. It needs cooperation from the companies, the market that buys the products (in this case, the US), and the country the companies are leaving (China). Apple and Foxconn seem committed. Trump may be persuaded. But China?A new book by journalist Patrick McGee points out that Apple's success in China happened because American investors and engineers helped build the ecosystem there. That kind of deep-rooted setup is hard to if Chinese companies and engineers want to shift operations to India for profit, China may not allow it. Reports suggest some experienced Chinese staff have been blocked from travelling to India or Southeast while Apple and India have tried to win over Trump, they may now need to please President Xi present, India's manufacturing system is far from matching China's. China still remains the heart of global manufacturing, not just for Apple but for many others looking to shift to countries like India and it seems, now views India's rising Apple manufacturing hub as a threat, and is quietly putting up hurdles to slow its rise. For now, all sides, Trump, Apple, New Delhi, and Beijing all seem to recognise India's potential in the years ahead. But how the power play unfolds will decide if that potential turns into real Watch
Time of India
19-05-2025
- Business
- Time of India
Apple supplier Hon Hai commits $1.5 billion
Hon Hai Precision Industry Co. , the main manufacturer of Apple Inc. 's iPhones, will inject $1.5 billion into its India unit as production shifts away from China. The Taiwan-based company said in an exchange filing on Monday that it had made the investment through its Singaporean subsidiary. Hon Hai, which is building new plants and adding production capacity in southern India, didn't immediately respond to an emailed request for comment. Apple is looking to import most of the iPhones it sells in the US from India by the end of next year, drawing the wrath of US President Donald Trump, who said last week he'd asked Apple CEO Tim Cook to stop building plants there. Trump's comments accelerate a shift beyond China to mitigate risks related to tariffs and geopolitical tensions. Apple makes most of its iPhones in China and has no smartphone production in the US - though it's promised to hire more workers at home and pledged to spend $500 billion domestically over the next four years. Hon Hai is also increasing its investments in the US . Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Bloomberg
08-04-2025
- Business
- Bloomberg
Taiwan Stocks Drop, Extending Weakness After Record Selloff
Taiwan's equity market extended further into bear market territory amid heightened investor concerns over tariff tensions. The benchmark Taiex fell as much as 4.8% on Tuesday to the lowest level since February 2024. Taiwan Semiconductor Manufacturing Co., which has the top weighting in the index at more than one-third, dropped as much as 6%. MediaTek Inc and Hon Hai Precision Industry Co each shed more than 5%.
