Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 153

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 153
---
Unaudited)  
    (Unaudited) 
  
    Tablet products 
    $168,360  
    $551,267 
  
    Mobile phone products 
     14,845,446  
     281,560 
  
    Wearable products 
     1,780,637  
     - 
  
    Subtotal product revenues 
     16,794,443  
     832,827 
  
    App service commission revenue, net 
     685,788  
     - 
  
    Total revenues, net 
    $17,480,231  
    $832,827 

Tablet product sales were
insignificant in our operations for the three months ended December 31, 2024. Revenue from the sales of tablets decreased by approximately
$0.4 million, or 69.5%, to approximately $0.2 million for the three months ended December 31, 2024 from $0.6 million for the same period
in 2023. Revenue from sales of phones, which accounts for 85% of total revenue, increased by approximately $14.5 million, or 5,172.6%,
to approximately $14.8 million for the three months ended December 31, 2024 from $0.3 million for the same period in 2023 as we rolled
out some new phone products beginning in January 2024 and the sales from two new wholesale customers who aggregately accounted for 84%
of our sales. Revenue from sales of wearable products, which was new for the three months ended December 31, 2024, increased by approximately
$1.8 million, or 100.0%, to approximately $1.8 million for the three months ended December 31, 2024 from $0 for the same period in
2023 as we rolled out some new wearable products beginning in October 2024 and the sales from one new wholesale customers who aggregately
accounted for 10% of our sales. Revenue from App service commission increased by approximately $0.7 million, or 100.0%, to approximately
$0.7 million for the three months ended December 31, 2024 from $0 for the same period in 2023 as we started to generate income by providing
installation of App service to our partners on our mobile devices and procure the distribution of these devices to the end users beginning