Apple supplier Foxconn December revenue drops 12% y/y

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Apple supplier Foxconn December revenue drops 12% y/y
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Taiwan's Foxconn , the world's largest contract electronics maker, said on Thursday revenue in December dropped 12.3% year-on-year after production problems related to COVID-19 controls at a major iPhone factory in China's Zhengzhou city.

The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in New Taipei City, Taiwan March 29, 2016. REUTERS/Tyrone Siu/File Photo, the world's largest contract electronics maker, said on Thursday revenue in December dropped 12.3% year-on-year after production problems related to COVID-19 controls at a major iPhone factory in China's Zhengzhou city.

The company said revenue for December was better than its own expectations and that a "gradual recovery" at its Zhengzhou plant had contributed to "double-digit growth" in revenue for its smart consumer electronics business compared to November. did not cut orders for its popular iPhones. Revenue for 2022 rose 10.47% from the previous year to a record high, driven by growth across major product lines from smartphones to servers, the company said.

Production of the Apple device was disrupted ahead of Christmas and January's Lunar New Year holidays, after a COVID-19 outbreak and curbs taken to control the virus prompted thousands of workers to leave. It was also hit by a bout of worker unrest over payment issues.

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