TAIPEI: Taiwan's Foxconn, the world's largest contract electronics maker and a major Apple supplier, on Tuesday raised its outlook for the fourth quarter on strong year-end sales for the holiday peak season. The fourth quarter is traditionally the hot season for Taiwan's tech companies as they race to supply smartphones, tablets and other electronics to major vendors such as Apple for the year-end holiday period in Western markets. "Therefore, the outlook for the fourth quarter should be better than the original guidance for 'significant growth'", the company added, without elaborating. For components and other products, revenue in November showed strong year-on-year growth "due to increasing allocations in smart consumer electronics products and rising shipments in auto components", it added. Foxconn's Taipei-listed shares closed flat on Tuesday ahead of the release of its November sales, compared with a 0.5% drop for the broader market.

Source: The Star December 05, 2023 21:29 UTC