Hon Hai Precision Industry Co., the world's largest contract electronics maker, experienced a 10-percent decline in sales in October compared to the same month one year ago, the company reported on Friday.
In a statement, iPhone assembler Hon Hai, better known globally as Foxconn, said it posted total consolidated sales of NT$550.89 billion (US$19.74 billion) for October, down 10.07 percent from a year earlier.
Hon Hai's sales in October were also down 5.95 percent compared to September, when the company generated better than expected revenue with consolidated sales of NT$585.73 billion.
In the first 10 months of this year, however, the company's consolidated sales rose 17.53 percent from a year earlier to NT$4.65 trillion, which is also a record high for the period.
Compared with the previous month, the strongest performance in October came from Hon Hai's cloud services division, followed by the smart consumer electronics division, the electronics component division, and the computer division, the company said.
With the company's investor conference on the third-quarter financial results slated for next Friday, analysts said the attention would fall on Hon Hai's forecast for the fourth quarter.
Investors will also take note of the impact of the supply constraints on Apple Inc's products due to chip shortages and COVID-related manufacturing disruptions on Hon Hai, according to analysts.
Despite that, analysts said, the company is still likely to benefit from solid demand for Apple's iPhone 13, and for servers and other related components used in cloud services, which command a higher gross margin.
Source: Focus Taiwan News Channel