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Taiwan’s Foxconn reports NT$522.1 billion in consolidated January revenue

Foxconn's January revenue up 13.48% month-over-month, down 20.93% year-over-year

Foxconn building. (Reuters photo)

Foxconn building. (Reuters photo)

TAIPEI (Taiwan News) — Taiwanese contract electronics maker Foxconn on Monday (Feb. 6) released its January consolidated revenue numbers.

Unaudited consolidated revenue for January was NT$522.1 billion (US$16.66 billion), which was up 13.48% compared to a month earlier, but down 20.93% year-over-year, the company said. Foxconn added that it was the second-highest revenue for the same period, with January 2023 being the highest at NT$660.4 billion.

Foxconn said its smart consumer electronics delivered strong growth in January due to strong customer pull-in month-over-month, while computing products had significant growth on the back of customer pull-in demand.

January's growth in cloud products was offset by weakening demand for its networking products, resulting in flattish performance month-over-month. Meanwhile, revenue for components and other products declined from the previous month.

Meanwhile, revenue in components and other products showed strong growth year-over-year in January, while cloud and networking revenue had significant growth. Computing products declined slightly, while smart consumer electronics products declined year-over-year.

Looking ahead, Foxconn said its operations for the first quarter are entering the traditional off-peak season and that its forecast for Q1 is expected to decline from a year earlier.