Foxconn revenue climbs 46%; Bloomberg forecasts 16M iPhone Duo sales

Key Apple manufacturing partner Foxconn has announced a year-on-year revenue increase of 46%, thanks to a mix of consumer electronics and server demand. Separately, Bloomberg Intelligence has forecast sales of 16 million iPhone Duo units in the first 12 months … Foxconn is by far the largest contract manufacturer for iPhones, and at one point the majority of its revenue came from Apple. That hasn’t been true for some time, however, largely because of the company’s rapid expansion into servers for AI data centers and cloud storage. All the same, some 29% of its revenue still comes from its consumer electronics division, of which Apple is by far the largest customer. It’s likely that at least some of its growth comes from the assembly of Apple products. That’s backed by Bloomberg Intelligence prediction that sales of the iPhone Duo may hit 16 million units by September of next year. That would be well above earlier expectations, with Apple reportedly targeting 9.7M units in the first year before strong demand saw the company raise the goal to 14M. Bloomberg says that with overall global smartphone demand decreasing due to a difficult economic environment, premium models like the Duo will become increasingly important to Apple’s revenue and profit. Apple TV 4K (latest model) Apple AirPods Pro 3 Apple HomeView meross Smart Garage Door Opener Logitech MX Master 4 for Mac Photo by rc.xyz NFT gallery on Unsplash FTC: We use income earning auto affiliate links. More.