TAIPEI – Foxconn Electronics, the world’s largest ODM/EMS company, expects revenue growth to gain steam this month, the company said.
First-half revenues were up 20.5% year-over-year, strong results for most companies, but well under Foxconn’s previous guidance of 30% growth.
However, the company indicated a rebound would be in store following slower growth in May and June, DigiTimes reported today.
Foxconn reported June revenues of $3.54 billion were up 4.1% sequentially and 14.2% year-over-year. The company reported May sales were just 0.3% higher sequentially, as Motorola and other big players slowed their orders.
The company last week took the unusual step of issuing a statement denying any potential acquisitions were in the works. Rumors had abounded that Foxconn was preparing to buy Inventec.