Foxconn shakes off factory disruption as January sales jump
Business news
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By
Peter Clarke
Electronics assembly company Hon Hai Precision Industries, which trades as Foxconn, achieved record sales in January of NT$660.4 billion (about US$22 billion) up 48 percent year-on-year and 4.9 percent sequentially.
Hon Hai said that compared with the previous month smartphones and computing products and shown double-digit growth as operations returned to normal and shipments increased out of its Zhengzhou campus.
This giant factory is a centre for iPhone production on behalf of Apple but at the end of 2022 as restrictions intended to control a covid surge prompted thousands of workers to leave.
The strong growth year-on-year suggests that the relaxation of covid rules across China could be freeing up supply chains and releasing pent up demand.
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