Apple Suppliers TSMC and Foxconn Post Strong Revenue Growth for November

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Despite a reported slowdown in iPhone sales, two of key Apple suppliers — Foxconn and TSMC — have reported a strong growth in their November revenue. Apple sources its 7nm A12 Bionic chip found inside its 2018 iPhones and the iPad Pro lineup from TSMC, while Foxconn assembles iPhones for the company.

For November, Foxconn reported record revenues of $19.5 billion, while TSMC recorded revenues of $3.1 billion. This represents a 5.6 percent increase in sales for both companies. Interestingly, these are the only Apple suppliers to have posted strong revenues while almost every other Apple supplier has had to cut their holiday season revenue forecast due to reportedly weak iPhone sales.

A strong performance from Foxconn and TSMC does not mean that iPhones are selling well. It is possible that Apple wanted to make sure it had sufficient stock of its devices for the holiday season and will now heavily cut down on its orders for the months going forward.

As for Apple, it will be revealing its Q4, 2018 revenues sometime in January. The company has already announced that it won’t be reporting the iPhone unit sales per quarter so analysts and others will have to rely on its revenues to ascertain the number of iPhones sold. Nonetheless, the very thing that Apple has decided to stop revealing iPhone sales number every quarter means the company knows that iPhone sales are going to decline henceforth.

[Via Bloomberg]