Foxconn, the world’s largest iPhone assembler, saw its January revenue leap 48.15 per cent year-on-year, as pandemic-led disruptions in its Chinese factories ease.
The Taiwanese manufacturing giant issued an update on the weekend claiming its January revenue of A$32 billion is a record high, up 4.93 per cent from the December period, when the company was still struggling with lowered iPhone production and worker shortages at its Zheengzhou plant.
Foxconn’s fortunes are very much tied to Apple, given the company assembles around 70 per cent of iPhones.
“With operations returning to normal and products shipments increasing at the Zhengzhou campus, as well as lower base, revenue in January delivered strong double-digit growth,” Foxconn said in the update.
“Based on market consensus for the first quarter 2023, January revenue came in slightly ahead. The outlook for the first quarter will likely reach market expectations,” Foxconn added.
Analysts expect first-quarter revenue to grow by around 4 per cent on the same period in 2021.
Foxconn will release fourth-quarter earnings on March 15.
