Foxconn, Apple's supplier is happy with the profit despite declining revenue
Foxconn, Apple's supplier is content with profits despite the declining revenue. Here are all the details.
The world is going through a crisis and many companies are having difficulties in this context. Foxconn, one of Apple's main suppliers, also seems satisfied with its revenues, despite going through tough times. The world's largest contract electronics manufacturer, Foxconn announced on Thursday that production at its China iPhone plant had "basically returned to normal" and that December revenue, down 12.3% year-over-year, marked the beginning of a recovery.
Foxconn, Apple's supplier is happy with the profit despite declining revenue
After restrictions to control COVID-19 forced thousands of workers to leave Foxconn's factory lines in China's Zhengzhou city, Apple iPhone production was disrupted ahead of Christmas and the Lunar New Year holidays in January.
Even though December revenue was lower than in the previous year, the company said it was better than it expected and that its smart consumer electronics business had "double-digit growth" in revenue compared to November thanks to a "gradual recovery" at its Zhengzhou plant. Apple had a success with iPhone 14 series and that can also have an effect on Foxconn as well.
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