Apple's largest iPhone The manufacturer has reported almost a fifth higher sales for April 2024 compared to the same month in 2023, partly due to diversification.
In March 2024, Foxconn's parent company Hon Hai Precision Industry Co reported a rate of 10% decline in sales in the first quarter, mainly due to declining iPhone demand. Despite being in what it describes as traditionally a transition month between old and new products, the company is reporting record high sales for April 2024.
According to Bloombergthe company says it earned 19% more year-over-year. Monthly revenue for April 2024 was $15.8 billion, compared to $13.3 billion in April 2023.
Nevertheless, Foxconn has also diversified, although not always successfully. It will be in July 2023 pulled out of a joint processor venture in India, to invest later $1 billion at other extensions in the country.