TAIPEI – Foxconn reported an 8% year-on-year drop in sales in August, but forecast a better business outlook ahead of new product releases by Apple.

The company said revenue last month reached T$412.83 billion ($12.93 billion), down 12% from July.

Revenue in its smart consumer electronics products, including smartphones, declined in August on the year due to "customers' conservative pull-in", the company said in a statement.

"With the second half of the year peak season currently underway, operations will gradually ramp up," the company said. "The outlook for the third quarter, which will be better than the second quarter, is expected to increase at an on-quarter pace higher than the average level of the previous two years."