Apple Supplier Foxconn’s Sales Decline Despite China Reopening

Hon Hai Precision Industry Co.’s February sales fell 11.7% from a year earlier, despite a boost for the iPhone assembler from China’s reopening.

The Apple Inc. supplier, also known as Foxconn, said monthly revenue dropped to NT$402 billion ($13 billion) last month. Still, first-quarter outlook is “roughly in line with market expectation,” based on sales figures in the last two months, Hon Hai said in a statement Sunday.