Foxconn, Apple's largest supply chain maker, which is currently assembling the iPhone 12, reported a profit of $ 1 billion in the first quarter of 2021, which is higher than all market participants' forecasts.
Foxconn recently said that increased demand for electronics by home-based users had boosted the company's revenue by 44% in the first quarter of 2021. The company has now officially announced that it has made a profit of $ 1 billion during this period.
According to Reuters , Hon Hai Precision Industry Co., the owner of Foxconn, says it had a profit of about $ 1.011 billion between January and March 2021. That figure was about $ 75.29 million in the same period in 2020. Analysts had forecast that the company's profit in the first quarter of 2021 will reach about $ 875 million.
IPhone sales usually peaked in the fall and end of the year due to the introduction of Apple's flagships in the fall and New Year holidays, but the iPhone 12 series was delayed due to problems caused by the Corona virus epidemic last year. As a result, part of the sale was moved to 2021.
The news of the increase in Foxconn's profit is published in a situation where the company will seek to supply orders and prepare for the production of the iPhone 13 series by attracting new forces in the production line. Foxconn has promised its new staff that they can reap almost $ 1,000 in benefits if they continue to be on the company's product line.
In addition, Apple's largest manufacturing partner is now seeking to build electric vehicle production lines in the light of its commercial success. It was recently rumored that the company wanted to cooperate with Apple in the production of these cars , but later officials called this cooperation a rumor.
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