Apple supplier Foxconn's revenue hammered by coronavirus outbreak

Topics Coronavirus | Apple  | iPhone


Apple's manufacturing partner Foxconn <2317.TW> reported its biggest monthly drop in revenue in about seven years on Thursday as the coronavirus outbreak continued to play havoc with its business. The Taiwanese company, which assembles Apple's iPhones, saw revenue sink 18.

1% in February compared with a year earlier - the biggest monthly fall since March 2013 and the third straight month of decline. It warned the coronavirus epidemic would hit its bottom line in the first quarter. Foxconn is among manufacturers worldwide.

This article is no longer available in our repository.

There could be multiple reasons for this.