UPDATE 1-Foxconn reiterates guidance for Q1 revenue drop off high base [Yahoo! Finance]
HON HAI PRECSON S/GDR NEW (HNHPF)
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Source: Yahoo! Finance
TAIPEI, Feb 5 (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and Apple's biggest iPhone assembler, on Monday reiterated that it expected an on-year drop in first quarter revenue coming off a high base. The first quarter is traditionally quieter than the previous one, the season when Taiwan's tech companies race to supply smartphones, tablets and other electronics to major vendors such as Apple for Western markets' year-end holiday period. Foxconn said in a statement that overall operations in this year's first quarter were "gradually entering the traditional off-peak season, and seasonal performance is expected to be similar to that of the past three years". It noted that in the first quarter of 2023, as factories resumed normal operations following the COVID-19 pandemic, increasing shipments led to a higher comparison base. "The outlook for the first quarter of this year is expected to decrease year-on-year," Foxconn said, reiterating previous g
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