Foxconn's May sales drop 9.5% y/y on smartphone weakness

FILE PHOTO: A woman walks past the logo of Foxconn outside a company's building, in New Taipe City, Taiwan December 22, 2022. REUTERS/Annabelle Chih

TAIPEI (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and major iPhone assembler for Apple Inc, said on Monday that revenue in May fell 9.5% year-on-year due to weakness in smart consumer electronics during the traditional low season.

Foxconn, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached T$450.7 billion ($14.7 billion), in line with its expectations, though it was up 5% compared with April.