Foxconn revenues drop in February

Contract manufacturer Foxconn, the company that is responsible for the actual assembling of many mobile devices like the Apple iPhone and Apple iPad, struggled through tough times last month according to its monthly revenue numbers. The company reported that revenue for February came in at NT$235.060 billion ($7.91 billion USD). Sequentially, that figure represented a rather steep 25.03% decline from January's NT$313.527 billion ($10.55 billion USD).

Year-over-year, Foxconn's February revenue dropped 22.10% from the prior year's figure. For January through February, Foxconn reported revenue of NT$548.587 billion ($18.46 billion USD) which is a decline of 14.71% from last year's two month total. Analysts blame the decline partially on the Lunar New Year, which took place in the middle of the month and disrupted production. And of course, there is thedecreased smartphone shipments that took place during the month, which is the bottom line reason for the poor revenue numbers.