Apple supplier Foxconn’s sales down 7.7% in March

HONG KONG (Reuters) – Sales at Taiwan’s Hon Hai Precision Industry, a key supplier of Apple Inc’s products known by its trade name Foxconn, were down by 7.7% in March.

The world’s largest contract electronics maker reported revenues of T$347.7 billion dollar ($11.51 billion) in March, falling from T$376.6 billion from a year earlier, it said in a filing to the Taiwan stock exchange on Monday.

January-March revenue totalled T$929.7 billion, down by 12.0% from the previous year, the filing showed.

Last month, Foxconn reported a 23.7% fall in profit in the last three months of 2019 as it braced for the impact from the coronavirus pandemic that hit demand from key customers.

Nepali Sanchar is online based Nepalese Media from Melbourne, Australia. It broadcasts online radio, tv and news portals.