Foxconn boasts high revenues based on iPhone, others
updated 10:30 am EDT, Mon October 13, 2008
Foxconn grows on iPhone
Foxconn Electronics -- the Chinese company that does final assembly on iPhones -- has posted its highest September revenues ever, figures show. The company accumulated the equivalent of $4.86 billion, a 9.61 percent growth over August and a 36.65 increase year-over-year. Notably, the growth is being attributed to increased shipments of specific products, namely the iPhone, Sony's PlayStation 3 console and various PCs. This seems to have defied global economic problems, though the full impact of the credit crisis would not be felt until October.
The figures may support recent claims, which suggest that Foxconn has been building some 800,000 iPhones per week, or even as much as 1,050,000, which would allow Apple to sell over 40 million iPhones in 2009. This would be line with projections from the Piper Jaffray research group, although Piper has traditionally assumed that Apple will release lower-cost versions of the regular iPhone.
