Shares in Taiwanese iPhone assembler Foxconn have reached decade-year highs over growing optimism about Apple's upcoming iPhone 8, due to launch in 2017.

According to a new Bloomberg report, Hon Hai Precision Industry – better known as Foxconn – has gained 29 percent in the last year on high expectations for Apple's 10th anniversary iPhone, which has helped the Apple supplier defy a flat mobile market.

iphone 8

Apple, which accounts for half the company's revenue, played a pivotal role in the stock’s recent buoyancy. The U.S. company this month reported stronger-than-expected iPhone sales during the key holiday quarter.

While the iPhone 7, introduced in September, failed to convince as many existing customers to upgrade as its predecessor, it did attract new smartphone buyers. That bodes well for the iPhone slated for later this year.

Apple is expected to launch a radically redesigned iPhone this year. The phone is believed to include a glass body, wireless charging, and potentially an edge-to-edge OLED display that integrates a front-facing camera with facial recognition and touch sensors for fingerprint identification. Foxconn may also end up assembling upgraded (but standard) 4.7 and 5.5-inch iPhones alongside the redesigned handset.

Investors hope the iPhone 8 line-up will provide a boost to a stalling industry, with Foxconn reportedly grappling with the slowdown. According to an average of analysts' estimates compiled by Bloomberg, revenue is projected to slip about 3 percent in 2016, and net income will be down 13 percent. However, earnings growth could rebound to 12.2 percent this year.

In addition to the 10th anniversary iPhone boost, Foxconn is said to be considering building a $7 billion display-making facility in the U.S. Japanese company Sharp is reportedly "taking the lead" on the proposed U.S. site and has set aside $1.8 billion to developing facilities for making OLED displays – the same technology Apple is expected to adopt in future iPhones.

Apple is expected to introduce the iPhone 8 in the fall, with claims of a launch as early as this summer likely based on reports that Apple will ramp up production early, although this may only be to improve yield rates, work out manufacturing issues, and ensure better supplies for a September release.

Tag: Foxconn
Related Forum: iPhone

Top Rated Comments

Caliber26 Avatar
69 months ago
There's no chance that will happen though. Are you daft or something?
FIRST OF ALL: I said "if"
second: I was being facetious
third: it's the freakin internet - quit taking things so seriously and maybe you'll have more fun
Score: 3 Votes (Like | Disagree)
smacrumon Avatar
69 months ago
With shares riding high on strong iPhone 8 expectations, it's time to bet on high increases to worker's pay this year at Foxconn as well. Give those workers shares in addition to greater take home compensation.
Score: 2 Votes (Like | Disagree)
JohnApples Avatar
69 months ago
FIRST OF ALL: I said "if"
second: I was being facetious
third: it's the freakin internet - quit taking things so seriously and maybe you'll have more fun
Just silently save all these quotes from those who say there's a 0% chance that there will be a 7S. Then come September if there actually is, have a field day watching them eat crow.
Score: 2 Votes (Like | Disagree)
djcerla Avatar
69 months ago
FIRST OF ALL: I said "if"
second: I was being facetious
third: it's the freakin internet - quit taking things so seriously and maybe you'll have more fun
Fourth: there's almost a 100% chance that this will actually happen, alongside the iPhone 8 introduction.
Score: 2 Votes (Like | Disagree)
dampfnudel Avatar
69 months ago
I'm gonna laugh so hard if Tim goes up on that stage and unveils an iPhone 7S, featuring a three-year old design.
That will most likely happen, along with an upsell-worthy new third option.
Score: 1 Votes (Like | Disagree)
MacFan23 Avatar
69 months ago
There's no chance that will happen though.
Let's be real. This could happen.
Score: 1 Votes (Like | Disagree)

Popular Stories

iPhone 14 Purple Lineup Feature

Will the iPhone 14 Be a Disappointment?

Saturday May 21, 2022 9:00 am PDT by
With around four months to go before Apple is expected to unveil the iPhone 14 lineup, the overwhelming majority of rumors related to the new devices so far have focused on the iPhone 14 Pro, rather than the standard iPhone 14 – leading to questions about how different the iPhone 14 will actually be from its predecessor, the iPhone 13. The iPhone 14 Pro and iPhone 14 Pro Max are expected...
apple ar headset concept 1

Apple's Headset Said to Feature 14 Cameras Enabling Lifelike Avatars, Jony Ive Has Remained Involved With Design

Friday May 20, 2022 6:50 am PDT by
Earlier this week, The Information's Wayne Ma outlined struggles that Apple has faced during the development of its long-rumored AR/VR headset. Now, in a follow-up report, he has shared several additional details about the wearable device. Apple headset render created by Ian Zelbo based on The Information reporting For starters, one of the headset's marquee features is said to be lifelike...
sony headphones 1

Sony's New WH-1000XM5 Headphones vs. Apple's AirPods Max

Friday May 20, 2022 12:18 pm PDT by
Sony this week came out with an updated version of its popular over-ear noise canceling headphones, so we picked up a pair to compare them to the AirPods Max to see which headphones are better and whether it's worth buying the $400 WH-1000XM5 from Sony over Apple's $549 AirPods Max. Subscribe to the MacRumors YouTube channel for more videos. First of all, the AirPods Max win out when it comes ...
apple music

Apple Increases Apple Music Subscription Price for Students in Several Countries

Sunday May 22, 2022 1:57 am PDT by
Apple has silently increased the price of its Apple Music subscription for college students in several countries, with the company emailing students informing them their subscription would be slightly increasing in price moving forward. The price change is not widespread and, based on MacRumors' findings, will impact Apple Music student subscribers in but not limited to Australia, the...
iPhone 13 Face ID

'High-End' iPhone 14 Front-Facing Camera to Cost Apple Three Times More

Monday May 23, 2022 7:05 am PDT by
The iPhone 14 will feature a more expensive "high-end" front-facing camera with autofocus, partly made in South Korea for the first time, ET News reports. Apple reportedly ousted a Chinese candidate to choose LG Innotek, a South Korean company, to supply the iPhone 14's front-facing camera alongside Japan's Sharp. The company is said to have originally planned to switch to LG for the iPhone...