TAIPEI – Foxconn reported NT$1.54 trillion ($47.83 billion) in the third quarter, down 11.65% from last year's third quarter but up 18.26% from the second quarter.

The latest third-quarter sales were the second highest ever for the quarter after the NT$1.75 trillion ($54.2 billion) recorded in the same period of 2022, and the company said the year-on-year decline in sales in the third quarter largely reflected a relatively high comparison base over the same period of last year.

Compared with the second quarter, Foxconn said sales generated by the smart consumer electronics division, electronic components division and the computing division rose in the third quarter, while revenue posted by its cloud and networking division remained little changed.

In September alone, Foxconn's consolidated sales rose 60% from a month earlier to NT$660.74 billion ($20.4 billion) which analysts attributed to peak season effects largely from the introduction of the new iPhone 15 models. However, September revenue fell 19.65% from a year earlier on weakening global demand for tech gadgets in a slowing world economy.

On a month-on-month basis, Foxconn's smart electronics and electronic components divisions benefited from the arrival of new products to post higher revenue in September, while its cloud and networking division saw little change in sales and the computing division reported a decline, the company said.

On a year-on-year basis, the company said its electronic components division posted an increase in September on the back of growing shipments of smart device and automotive components, while sales generated by the computing, smart consumer electronics, and cloud and networking divisions saw sales fall.

In the first nine months of this year, Foxconn's consolidated sales stood at NT$4.31 trillion ($133 billion), down 7.65% from a year earlier as all of its major four divisions reported a decline.