Revenue at Taiwan’s Hon Hai Precision Industry, a key supplier of Apple Inc’s products known by its trade name Foxconn, slid 7.7% in March due to effects from the COVID-19 coronavirus pandemic.
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.
MacDailyNews Take: Last month, Foxconn’s revenue dropped 18.13% YOY, so March’s 7.7% slide is an improvement; a clear sign of an Apple supplier beginning to climb out of the COVID-19 hole.
