iPhone 12 series will enable Foxconn, its main supplier, to see considerable gains during the holidays and the last quarter of 2020. The company also announced that it will continue to invest in the United States.
In the third quarter of 2020, Foxconn achieved a profit of 1.08 billion U.S. dollars, almost the same as the profit in the same quarter of 2019. The coronavirus epidemic may be the main reason for the flat year-on-year growth, because according to AppleInsider's report, Apple suppliers are facing costly delays due to the rescheduling of product launch times.
Foxconn’s chairman stated that the company’s demand for smartphones and servers in 2020 is “stronger than expected”. The former may be due to the launch of the iPhone 12 series. Analysts also believe that this trend is expected to continue. Consumer electronics revenue is expected to grow by as much as 10% in the fourth quarter and continue to grow in early 2021.
In addition, Foxconn may also be responsible for assembling all iPhone 12 Pro and iPhone 12 Pro Max models, as well as 70% of orders for other models. The company said that the expected demand for the new product lineup also encouraged it to continue investing in US projects. Including its Wisconsin factory, which has been facing considerable challenges.
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