iPhone X boosted Foxconn’s Dec. revenue by 50%

Apple’s primary contractor assembled a ton of top-of-the-line iPhones last quarter.

From Thursday’s South China Post:

Foxconn Technology Group, the world’s largest contract manufacturer of consumer electronics, posted 50 per cent year-on-year growth in December revenue mainly from iPhone X sales, the company said in a filing to the Taiwan stock exchange on Thursday.

Here’s what that looks like (via Mark Hibben in Reasons for optimism going into earnings):

Foxconn Hon Hai

My take: I’m surprised this news isn’t getting more attention, given the prevailing narrative (e.g. WSJ: “weaker-than-expected demand for the pricey handset.”) Did Foxconn overproduce in December, making too many iPhone Xs too fast? Something to ask Tim Cook at the earnings call this afternoon. Tune in here at 5 p.m. Eastern.

See also: Who ya going to believe, Nikkei Asian Review or your lying eyes?

2 Comments

  1. David Drinkwater said:
    What’s important about these numbers is that these are revenue dollars (or whatever unit you like) for “sold” iPhones for Foxconn. They are presumably good (not failed) finished goods. And they presumably take into account all the supplies/suppliers into the material BOM of the phone: not yields, not same supplies from different suppliers, etc.

    My viewpoint is that this should track very well with “actual” iPhones, not all the complexities of Apple’s “extremely complex” supply chain.

    3
    February 1, 2018
    • Ken Cheng said:
      Good points. There is soft mushy rumors, and then there’s hard data, like Foxconn’s revs, for all the reasons you cite, as it encompasses all those component supplychain checks, into the reality of final assembly at Foxconn. Obviously, there’s also Pegatron, but this gives us the first real hard point on production.

      1
      February 1, 2018

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