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Robert Geiger
According to Bloomberg, sales of Foxconn (Hon Hai Precision Industry Co), the world's largest iPhone manufacturer, plummeted in October after China initiated an investigation into the firm.
Last month, the company's revenue declined 4.6% to NT$741.2 billion ($23 billion). Despite this, Foxconn reiterated its "significant growth outlook" for the fourth quarter, which is generally its strongest due to year-end iPhone shipments. In September, Apple revealed the 15th generation iPhone.
"Operations will grow sequentially," the company claimed, without going into further detail.
The Foxconn inquiry was made public in October. According to China's state-run newspaper Global Times, tax authorities investigated the company's facilities in Guangdong and Jiangsu provinces, while natural resource regulators inspected enterprises in Henan and Hubei provinces.
source: bloomberg.com
Last month, the company's revenue declined 4.6% to NT$741.2 billion ($23 billion). Despite this, Foxconn reiterated its "significant growth outlook" for the fourth quarter, which is generally its strongest due to year-end iPhone shipments. In September, Apple revealed the 15th generation iPhone.
"Operations will grow sequentially," the company claimed, without going into further detail.
The Foxconn inquiry was made public in October. According to China's state-run newspaper Global Times, tax authorities investigated the company's facilities in Guangdong and Jiangsu provinces, while natural resource regulators inspected enterprises in Henan and Hubei provinces.
source: bloomberg.com
