The Apple Company Supplier Foxconn’s Sales Down 7.7 Percent in The March Amid Covid-19 Outbreak

The Sales at Taiwan’s Hon Hai Precision Industry the key supplier of Apple Company products known by its trade name Foxconn its down by the 7.7 percent in March. World largest contract electronics maker are report revenues of the TWD 347.7 billion ($11.51 billion) in March, falling from the TWD 376.6 billion from a year earlier, it said in a filing to the Taiwan stock exchange on Monday.The January-March revenue totalled TWD 929.7 billion, down by 12.0 percent from the previous year, the filing showed.

Foxconn Report In Last Three Month

The Foxconn reported a 23.7 percent fall in profit in the last three months of 2019. The Foxconn is among are manufacturers worldwide grappling with the fallout from coronavirus restrictions that have disrupted supply chains and hurt demand.The Apple, its the biggest client, rescinded its the outlook for the first quarter of 2020 saying manufacturing in China are take longer than expected to the resume amid travel restrictions and an extended Lunar New Year break.

The Foxconn reported its biggest monthly drop in revenue in about seven years in February as the outbreak continued to play havoc with its business.

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