January 10, 2018 / 12:35 PM / a year ago

Foxconn's December sales rise 50 percent year-on-year

The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in New Taipei City, Taiwan March 29, 2016. REUTERS/Tyrone Siu/File Photo

TAIPEI (Reuters) - Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, posted a 50.2 percent year-on-year rise in revenues for December, it said on Wednesday.

It reported consolidated revenue of T$675.1 billion (16.87 billion pounds) in December and T$4.7 trillion for January to December, the company said in a filing to the Taiwan stock exchange.

In 2017, the delayed launch of Apple’s iPhone X in November led some analysts to believe suppliers of Apple could reap gains into the early part of 2018.  

However, in December, shares of Foxconn, also formally known as Hon Hai Precision Industry Co ltd (2317.TW), dipped after a Taiwan media report and comments from some analysts suggested demand for iPhone X could come in below expectations in the first quarter of 2018.

Nevertheless, some analysts have retained the view that the March quarter will see significant iPhone shipments.

Reporting by Twinnie Siu and Meg Shen; Editing by Mark Potter

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