Computing devices, mobiles and consumer electronics slip in January

The world’s largest contract electronics maker has posted reported consolidated revenues of NT$345.332 billion ($11.2 billion) for January 2017, or a year-on-year increase of 2.29 percent. This is down from NT$449.64 billion ($14.61 billion) in December, when it experienced a 9.8 percent year-over-year increase.

While demand for the 5.5-inch iPhone 7 Plus increased the company’s revenues last month, it still experienced an annual revenue decline over the 12-month period.

For the whole of 2016, Foxconn’s revenue was NT$4.36 trillion ($136.38 billion), representing a year-over-year decrease of 2.81 percent.

The company has said that supply of computing devices, communications devices and consumer electronics slipped in January due to the relatively quiet off-season effects after the holiday period.

Foxconn to invest $5 billion for mobile handset manufacturing plant in India

The company also plans to establish a manufacturing facility for mobile handsets and notebooks in India after it signed a memorandum of understanding with the government in August 2015. According to the latest reports from the country, it plans to acquire 1,500 acres of land with the intent of investing $5 billion in the state.