TAIPEI – Foxconn's revenue in February fell 12.33% year-over-year, and the company expects first quarter revenue to decline on a yearly basis.

The company's revenue for February declined 12.33% year-over-year to NT$352.5 billion ($11.2 billion), while month-over-month (January 2024) revenue fell 32.49%.

Foxconn said overall operations in the first quarter of 2024 are gradually entering the traditional off-peak season, and seasonal performance is expected to be similar to that of the past three years.