10:02 AM EDT, 04/05/2024 (MT Newswires) -- Apple ( AAPL ) iPhone manufacturer Foxconn said Friday it expects an increase in Q2 revenue after a drop in Q1.

Q1 revenue was 1.322 trillion Taiwan dollars ($41.16 billion), down 9.6% year on year, said the Taiwan-based company said.

Q2 "remains a traditional off-peak season, and major products are entering a period of transition between old and new products," Foxconn said.

However, the outlook for Q2 is for "expected growth both QoQ and YoY," the company said, without providing figures.

Foxconn said March revenue was 447.5 billion Taiwan dollars, up 11.8% from a year earlier.

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