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
86 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
86 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
86 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
86 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
86 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
86 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 16 Mock Header With Dynamic Island

Skipping the iPhone 15 Pro? Here's What's Rumored for iPhone 16 Pro

Friday September 22, 2023 9:29 am PDT by
Are you skipping the iPhone 15 Pro and waiting another year to upgrade? If so, we already have some iPhone 16 Pro rumors for you. Below, we recap new features rumored for the iPhone 16 Pro models so far:Larger displays: The iPhone 16 Pro and iPhone 16 Pro Max will be equipped with larger 6.3-inch and 6.9-inch displays, respectively, according to Ross Young, CEO of Display Supply Chain...
Update Your iPhone 15 to iOS 17

Warning: Update Your iPhone 15 to iOS 17.0.2 Before Transferring Data From Another iPhone

Friday September 22, 2023 6:36 am PDT by
If you are unboxing an iPhone 15, iPhone 15 Plus, iPhone 15 Pro, or iPhone 15 Pro Max today, make sure to update the device to iOS 17.0.2 before transferring data to the device from another iPhone, or else you might encounter issues. iOS 17.0.2 is only available for the iPhone 15 lineup. Apple says the update fixes an issue that may prevent transferring data directly from another iPhone...
iOS 17

Apple Releases iOS 17.0.1 and iPadOS 17.0.1 With Bug Fixes, Plus iOS 17.0.2 for iPhone 15 Models

Thursday September 21, 2023 10:28 am PDT by
Apple today released iOS 17.0.1 and iPadOS 17.0.1 updates for the iPhone and the iPad, adding bug fixes to the new software. The iOS 17.0.1 and iPadOS 17.0.1 updates come just a few days after Apple launched iOS 17 and iPadOS 17. The software, which is build 21A340, can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. There is a...
Apple Watch Ultra 2 double tap gesture 230912

watchOS 10.1 to Enable Apple Watch's New 'Double Tap' Gesture

Thursday September 21, 2023 12:52 pm PDT by
The new Double Tap gesture for the Apple Watch Series 9 and the Apple Watch Ultra 2 will be enabled starting with watchOS 10.1, according to Marques Brownlee, host of the popular tech-focused YouTube channel MKBHD. The first beta of watchOS 10.1 will likely be available by next week, and Apple announced that the software update will be released next month. Brownlee shared his impressions...