Apple Inc (NASDAQ:AAPL, ETR:APC)’s phone manufacturing partner Hon Hai saw revenues surge by a third year on year in August, with unaudited sales reaching 548 billion new Taiwanese dollars (around US$17 billion).
Current-year accumulated revenue stood at more than US$124 billion at the end of the month, approximately 9.5% higher than the previous year.
Hon Hai, also known as Foxconn, is responsible for putting together many of the components that go into the iPhone, including parts manufactured by other companies.
The company’s factories, particularly the ones in Shenzhen and Zhengzhou (often referred to as ‘iPhone City’), are where a significant portion of iPhones are assembled before being shipped globally.
Hon Hai is benefiting from resurgent global smartphone demand following a prolonged slump.
Apple is expected to reveal its next generation of iPhones next Monday, replete with a new ChatGPT-powered Siri and other artificial intelligence features.
Chinese iPhone killer Huawei intends to concurrently reveal its own new handheld device, according to reports.