Foxconn sales fell 7.7% year-on-year in March

Hon Hai Precision (Foxconn), one of Apple's main suppliers, said that the company's March sales fell 7.7% year-on-year.

The world's largest manufacturer of electronic products filed a regulatory filing on Monday stating that the company's March revenue was NT $347.7 billion (about US $11.51 billion), lower than NT $376.6 billion in the same period last year.

The document also shows that Foxconn's revenue from January to March totaled NT $929.7 billion, a decrease of 12.0% compared with the same period last year.

Foxconn announced in its financial report last month that the company's profit in the last three months of 2019 decreased by 23.7% year-on-year, because the company is preparing to deal with the impact of the new coronavirus pandemic, which caused decreased demand of its major customers.