iPhone supplier Foxconn revenue surges 30% to $18.8 bn in Sept

Taiwan’s Foxconn, a key supplier to Apple, has posted a 30 percent increase in September revenue to $18.8 billion.
Apple’s products, largely manufactured in China, have so far been spared from U.S. import tariffs, but it could be put in the crosshairs of the escalating trade dispute as Washington has threatened to expand the tariffs to almost all goods from China including iPhones, Reuters reported.

The strong monthly result, its second best ever, brings Foxconn’s both nine-month and third-quarter revenues to record highs.

“This time, the three biggest product lines in terms of month-on-month and annual increase comes in this order: consumer, computing, and communications,” the official said, without elaborating what the categories consist of.

The world’s largest contract electronics manufacturer warned in June that the spat between China and the United States was the biggest challenge it was facing.

China is a major production base for Foxconn, while the United States is a key market for the manufacturer.

Apple introduced three iPhone models and a smart watch in an attempt to get customers to upgrade to more expensive devices amid stagnant global demand for smartphones. Apple reports the September quarter results on Nov. 1.