Due to weak iPhone sales, the company Foxconn has reported the first decline in sales since 1991
The main collector of smartphones iPhone company Hon Hai Precision Industry (Foxconn) reported the first decline in sales since 1991. The main reason is the decline in demand for the iPhone and the glut of the market.
The company’s turnover for the year decreased by 2.81% to about 136,38 billion. In December sales grew by 9.76% to $ 14 billion.
The decline in Foxconn sales directly due to the fact that last year Apple’s revenue has also declined for the first time since 2001. And Apple is a major Foxconn customer, providing more than 50% of the income of the Chinese company.
According Yuanta Investment Consulting, in 2016 the delivery of the iPhone was reduced to 207 million smartphones, while a year earlier they amounted to 236 million units.
In 2017 analysts predict a rise in iPhone shipments to 221 million smartphones, which will contribute to a completely new model.