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« on: February 05, 2020, 04:05:19 pm »

Foxconn reportedly slashes revenue growth predictions due to coronavirus

What you need to know


Hon Hai Precision has reportedly slashed its revenue growth predictions.
The company trades as Foxconn, Apple's biggest iPhone manufacturing partner.
The cuts are due to coronavirus.


With factories closed across China, money isn't being made by Foxconn and others.

Hon Hai Precision – trading as the more familiar Foxconn brand – has slashed its 2020 revenue growth predictions over concerns relating to the ongoing coronavirus outbreak, according to reports. Foxconn is Apple's main iPhone manufacturing partner.

Bloomberg's Debbie Wu reportedly got the information directly from chairman Young Liu via a text message. The new figures represent an increase of just 1% to 3%, down from the previous prediction of up to 5% growth.


  "Given current market conditions, we are lowering to 1%-3%," Liu replied when asked about whether Hon Hai will cut its original sales growth forecast for this year.


The issues facing Foxconn are clear. With workers unable to move ...

Source: Foxconn reportedly slashes revenue growth predictions due to coronavirus
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