.jpeg)
Foxconn, the largest iPhone assembler Apple partner in the world, its income shot after being released from the 'disturbance' of Lockdown Covid in China.
Foxconn's revenue during January 2023 shot 48.2% by year over year to USD 22 billion, after the operation of the Zhengzhou factory returned to normal and the shipping of its products shot. The factory in Zhengzhou is their biggest iPhone assembly factory.
This income rose 4.93% when compared to December 2022, with the biggest increase in the smart electronic product sector including mobile phones and computer products. Growth in the sector is claimed to grow to two digits.
As is known, iPhone production at Foxconn's Zhengzhou factory was disturbed by the holiday season at the end of 2022. The cause is a variety of lockdown carried out by the Chinese government to limit the spread of COVID-19.
This makes Foxconn factory workers live in the factory complex. But they then held a demonstration because the bonus that was previously promised never paid. Finally Foxconn allowed the workers to return home and provide compensation in a certain amount.
According to analysts, 70% of the iPhone in the world is produced by Foxconn and the majority of iPhone produced in Zhengzhou is a premium variant, including the iPhone 14 Pro, as quoted by us from Reuters, Monday (6/2/2023).
"Based on market consensus in the first quarter of 2023, revenue for January slightly rose. Outlook from the first quarter is likely to achieve market expectations," Foxconn explained.
Refinitiv analyst estimates that Foxconn's income will grow 4% year over year.
Meanwhile, Apple's income reportedly slumped for two consecutive quarters, one of which was due to the limited supply of the iPhone from Foxconn. But Apple's income is predicted to improve after the Lockdown rules are no longer applied in China.