Hon Hai recently published its performance for the second quarter of 2020, stating that its net profit reached TWD22.9 billion, which was higher than the market expectation of TWD18.07 billion.

According to its monthly sales statistics calculation released previously, Hon Hai's operating revenue for the second quarter of 2020 was TWD1.13 trillion, a decrease of 2.8% compared with the same period of last year.

Apple's CEO Tim Cook previously said that although the closing of Apple stores might have affected iPhone sales to a certain extent, the pandemic outbreak may also improved the sales of iPad and Mac.

It is said that Apple's orders accounted for half of the sales of Hon Hai. As one of the assembly partners of Apple, Hon Hai plans to expand its business in India.

Prior to this, Chinese electronics giant Luxshare Precision Industry Co., Ltd. reached an agreement in July 2020 to purchase an iPhone manufacturing plant from Wistron Corp., aiming to become the first iPhone assembler in mainland China.

In the future, Hon Hai will maintain the assembling orders for high-end iPhones; while Luxshare will gain the orders for medium and low-end iPhone business.