Foxconn's November Sales Flagging, Furloughs Reported
TAIPEI -- Foxconn Electronics reported consolidated revenues fell 7.1% year-over-year to NT$480.7 billion ($15.1 billion) in November.
Revenues were up 1.9% from October on higher demand for consumer electronics, partially offset by computing products. Revenue from communication device was flat during the month.
Year to date consolidated revenues are NT$3.91 trillion ($123 billion), down 4.1% from 2015.
According to published reports, Foxconn's operations in India have put about one-quarter of its 8,000 factory workers on paid leave for two weeks due to falling demand for smartphones. Some 1,700 workers have been furloughed as a result of cuts to production, which are directly related to consumer demand, reports said.
Foxconn counts as customers in India Xiaomi, Oppo, Gionee, Infocus, Nokia, Micromax.
