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© Reuters

Two of Apple’s key suppliers reported higher sales for January, despite fears the companies could be hit by lower than forecast sales of the latest iPhones.

Taiwan Semiconductor Manufacturing Co, which supplies the core processor chips in iPhones and generates about half of its $33bn annual revenues from mobile devices, reported unaudited sales for January of NT$79.74bn ($2.72bn), a rise of 4.1 per cent on the same month in 2017. 

Hon Hai Precision Industry Co — also known as Foxconn — also had a bump in January sales. The company, which assembles most iPhones in giant factories in China, said unaudited revenue for January was NT$400.6bn ($13.7bn), a 16 per cent year-on-year increase. 

Both companies are listed in Taiwan but published their monthly revenue results after the local market had closed on Friday.

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The Financial Times Limited 2018. All rights reserved.

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