Foxconn, a key Apple component supplier, has reported its revenue for the last quarter of 2023. Specifically, Foxconn’s revenue decreased in the last quarter of 2023 and they also said it expected the first quarter of the year. In 2024, the situation will not be better, sales will decrease compared to the same period last year.
Foxconn said the reason for the decrease in revenue is because sales of computer products, smart consumer electronics products and cloud service products are decreasing or trending sideways. The company’s revenue in December alone also decreased by 27% compared to the same period last year.
“We still see iPhone volume and structural weakness, as well as a lack of recovery in Mac sales,” Barclays analysts said in a report to investors a few days ago. iPads and Wearables.” . This means that according to Barclays analysis, iPhone demand remains low, and Mac, iPad and Apple Watch sales also show no signs of improvement. According to this report, the Chinese market is recording a sharp decline in iPhone 15 sales.
Looking at the current smartphone market woes, Piper Sandle’s Harsh Kumar said he expects the phone market to recover around the second half of 2024 as “We are concerned about phone inventory in the second half of 2024.” early 2024 and also feel growth has peaked for retail sales.”.