Foxconn April Revenue Hits $15.8B, Up 19%, Shares at Record High

May 8, 2024, 08:14 AM

Foxconn, also known as Hon Hai Precision Industry, Apple's largest iPhone manufacturer, reported a significant increase in revenue for April 2024, achieving nearly a 19% rise compared to April 2023, resulting in its best April ever with revenues reaching $15.8 billion. This growth, marking the strongest monthly sales growth since the start of 2023, is attributed to a resurgence in iPhone demand and diversification efforts. Additionally, Chinese iPhone shipments saw a 12% increase in March 2024 after Apple and its retailers implemented price cuts, with total shipments reaching 3.75 million units. Hon Hai's shares jumped to a record high following the announcement.