Taiwanese electronics manufacturer Foxconn, which is key supplier for Apple, reported a 30% increase in earnings for September. Thus the company signs for strong sales figures of Apple, at a time when the US-China trade war escalates.
Apple products that are produced in China have so far been excluded from the US duties on imports, but may be at the center of the battle as Washington threatened to extend the scope of duty to covers all imports from China, including the iPhone.
Foxconn, which official name is Hon Hai Precision Industry, said in its finance statement filled to the stock exchange that in September its revenue rose by 30% to 18.8 billion USD.
The strong monthly results, which are the second most powerful in the company’s history, lead to record revenue for the quarter as well as for the first nine months.
At the heart of the growing trade dispute between China and the United States, the world’s largest electronics supplier, warned in June that this is the biggest challenge it faced. China is a huge production base for Foxconn, while the US is a major market for the company.