IPhone maker Hon Hai’s April sales surge 26% ahead of US tariffs

[TAIPEI] Hon Hai Precision Industry, the main contract manufacturer for Apple and Nvidia, said its April revenue rose 26 per cent, likely boosted by the hastening of orders ahead of US tariffs that could upend business for its customers.

Sales in April reached US$21.4 billion. That contributed to Hon Hai’s best ever total for the first four months of the year, the company said on Monday (May 5), crediting “strong pull-in momentum” for things like AI products.

It came on the heels of a first quarter in which Apple and PC makers like Lenovo Group accelerated shipments to the US and other markets in order to stockpile inventory. Even with those preemptive measures, Hon Hai customers are expected to take a hit from US tariffs on China and elsewhere – on Thursday, Apple said during its quarterly earnings call that it expects US$900 million in higher costs from tariffs in the current period.

Hon Hai, also known as Foxconn, said it anticipates both quarterly and year-on-year growth in the current quarter, cautioning that the impact of evolving global political and economic conditions will require close monitoring. It has scheduled its first-quarter earnings report and call for May 14. BLOOMBERG