iPhone 12 will bring Foxconn big profits

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Foxconn will produce all iPhone 12 Pro and iPhone 12 Pro Max models, as well as 70% of other models of the new iPhone 12 smartphones

Analysts say the launch of the Apple iPhone 12 series will enable the company’s main partner, Foxconn, to achieve strong financial performance in the last quarter of 2020. Foxconn added that it will continue to invest in the United States.

iPhone 12
iPhone 12

iPhone 12 will bring Foxconn big profits

During the third quarter of 2020, Foxconn made a profit of $ 1.08 billion, about the same as the company earned in the same quarter in 2019. The coronavirus pandemic was the main reason for the unchanged rate, but many companies have worsened their performance, so Foxconn’s result can be considered good.

Liu Young-way, chairman of Foxconn, said the company is seeing “stronger than expected” demand for smartphones and servers in 2020. This trend will continue, Liu and analysts said. Consumer electronics revenue is expected to increase by as much as 10% in the fourth quarter and will also continue to grow in early 2021.

Foxconn will manufacture all models of the iPhone 12 Pro and iPhone 12 Pro Max, as well as 70% of other models of the new iPhone 12 smartphones.

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