Apple iPhone assembler Foxconn reports 2.1% year-over-year decline in revenue for May
Foxconn, the contract manufacturer that assembles many of the world's top mobile devices including the Apple iPhone, reported a drop in revenue for May to $9.062 billion USD. That is a 2.1% decline year-over-year, and a wider 8.4% drop sequentially. Telecom shipments were mostly unchanged for the period, which means that deliveries of other products were most likely responsible for the revenue decline.
Things have been rough for Foxconn as it has reported year-over-year revenue gains in only two of the last six months. And those increases (February .2%, March .4%) were swamped by the percentage declines seen during the down months. For example, December 2015 revenue declined 20.5% compared to the same month during the previous year. And January's revenue decline was 14.8% from January 2015.
For the year to date, Foxconn has announced revenue of $48.34 billion USD. That is a decline of 5.6% from the six-month total reported by the manufacturer last year.
Last month, we passed along speculation that production of Apple's new handsets had started at Foxconn and rival Pegatron. Apple likes to split up the sourcing of supplies and the manufacturing of finished products to two or more companies. This way, Apple isn't totally shut down in the case of a strike, Act of God, or any unpredictable event that could close production at a facility for an extended period of time.