Apple supplier Foxconn reports strong over 48% growth in Jan

BEIJING : Key Apple supplier Foxconn has reported strong revenue for January that surged 48.2 per cent (year-on-year), after facing significant Covid-related disruptions in October and November in 2022.

The company reported consolidated revenue of NT$ 660.4 billion for January 2023, up 4.93 per cent (on-month) and 48.3 per cent YoY.

Revenue in January reached a record high for the same period, said the company,

"With operations returning to normal and product shipments increasing at the Zhengzhou campus, revenue in January delivered strong double-digit growth both on MoM and YoY basis," said Foxconn.

The company reported better components supply and strong customers' pull-in.

Smart consumer electronics products and computing products showed strong double-digit growth.

Foxconn's biggest iPhone manufacturing facility in China, hit hard by Covid-related disruptions, gradually recovered and production reached about 90 per cent of maximum capacity in early January.

Foxconn Technology Group's facility in the central Chinese city of Zhengzhou is the world's largest iPhone factory, which saw major disruptions in the last three months of 2022 caused by the pandemic controls.

The factory was rocked by an exodus of tens of thousands of employees and violent workers' protests amid a Covid-19 outbreak that began in late October 2022.

In a New Year's message, Foxconn Chairman and CEO Young Liu had said the Taipei-based company may see a more difficult and challenging path ahead.