Foxconn’s November Revenue Falls 29% After Covid Hit China iPhone Plant
Zhang Yushuo
DATE:  Dec 06 2022
/ SOURCE:  Yicai
Foxconn’s November Revenue Falls 29% After Covid Hit China iPhone Plant Foxconn’s November Revenue Falls 29% After Covid Hit China iPhone Plant

(Yicai Global) Dec. 6 -- Hon Hai Precision Industry, also known as Foxconn, said revenue fell 29 percent in November from the previous month because of shipment disruptions brought about by a Covid-19 outbreak at its largest iPhone assembly plant in China.

Revenue was TWD551.1 billion (USD18 billion) last month, down 11.4 percent from the same period last year, Foxconn said yesterday, adding that the month-on-month decline was basically in line with its expectations.

At the end of October, many workers at the largest of Foxconn’s three plants in Zhengzhou fled following a Covid-19 outbreak in Henan province. Since then, the Apple supplier has brought in incentives to attract new staff and reduce the impact on production.

Foxconn expects the plant to resume full production between late December and early January, Chinese news site Ifeng.com reported yesterday, citing a source familiar with the firm. “The overall epidemic situation has been brought under control,” Foxconn said.

Foxconn’s revenue from smart consumer electronics was hit hardest last month, falling as output entered the off-peak season, and some shipments were impacted by Covid-19. Income from computing products had double-digit growth from a year ago due to new device launches and better component supply. Cloud and networking product revenue rose on strong server demand.

In the 11 months ended Nov. 30, Foxconn’s revenue rose 13.6 percent to a record high of nearly TWD6 trillion (USD195.9 billion) from the same period last year.

Editor: Futura Costaglione

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Keywords:   Hon Hai Precision Industry,Foxconn,Apple