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Foxconn Expects Chip Shortage To Stretch Into Late 2022

Foxconn, the world’s biggest iPhone manufacturer, has warned that global components shortages are expected to last until the second half of 2022.

Foxconn Chairman Young Liu told investors that fourth quarter 2021 consumer electronics revenue would also be down year-on-year, citing both the ongoing chip shortages, as well as last Oct-December period being unusually lucrative for Foxconn, owing to the delay of numerous smartphone launches due to the pandemic.

“If not for the material shortage, the outlook for the fourth quarter would in fact look better,” said Lui.

It’s not all bad news, though. Foxconn expects various components, such as smartphone optical modules, to be back in supply by the end of 2021.

Last month, Apple CEO Tim Cook blamed the supply chain crunch for costing the company US$6 billion in potential revenue during the September quarter, while signalling worse is still to come.

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