TAIPEI (Taiwan News) — Taiwanese contract electronics maker Foxconn on Tuesday (Dec. 5) said its November revenue was up almost 18% compared to last year.

The company reported consolidated revenue of NT$650 billion (US$20.64 billion) for November, representing a 12.3% month-on-month decline, but a 17.95% increase year-over-year. It was the second-highest November figure in the company’s history, behind NT$681.4 billion reported in November 2020.

Meanwhile, revenue for the first 11 months was NT$5.69 trillion, representing a 4.89% decline from a year prior.

Foxconn said it saw strong November growth year-over-year in its smart consumer electronics products due to a low base because last year its primary iPhone production facility in China’s Zhengzhou was affected by pandemic restrictions.

For components and other products, November revenue grew “due to increasing allocations in smart consumer electronics products and rising shipments in auto components.” Meanwhile, computing products saw November revenue decline slightly year-over-year due to slowing PC market demand.

Cloud and networking products also saw November revenue drop slightly compared to a year earlier due to “conservative customer pull-in.”

Looking ahead, Foxconn said revenue performance in the first two months of the fourth quarter has been “slightly higher than expected.” It added that it expects to see “significant growth” for Q4.