April 6, 2020 / 12:21 PM / 2 months ago

Apple supplier Foxconn's sales down 7.7% in March

FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu

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.

Reporting by Twinnie Siu; Editing by Alison Williams

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