The coronavirus has had a huge impact on Apple (NASDAQ: AAPL) supplier Foxconn. The Taiwan-based iPhone assembler has experienced a severe decline in its monthly revenue for February.
According to the company website, Foxconn's revenue for February 2020 was down 18.13% to T$217.5 billion (approximately $7.26 billion) compared to sales of T$265 billion ($8.85 billion) in the prior-year period. This was the second consecutive month of decline after sales fell 12% to T$364.56 billion ($12.17 billion) in January 2020 as well.
It was Foxconn's biggest monthly revenue decline in seven years, according to one Reuters report. In the first two months of 2020, company revenue is down by a significant 14.4%.