iPhone Manufacturer Reports Fall in Revenue as Demand Weakens
Foxconn, Apple’s largest supplier, reported an 11.65% drop in revenue as compared to the same period in 2022.
One of Apple’s largest suppliers, Foxconn, has disclosed a decline in monthly sales of 11.65% from the same period in 2022. According to Foxconn, this decline in revenue derives from a reduced demand for electronics.
According to the iPhone supplier, “due to conservative clients’ pull-in,” the overall demand for computer, smart consumer electronics, cloud, and networking equipment declined in February.
Foxconn also revealed how its world’s biggest iPhone manufacturing in Zhengzhou, China, is now finally resuming its operations after encountering serious challenges owing to the recent COVID lockdowns throughout different regions of the country.
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At the period when the Foxconn factory region was shut down by the Chinese authorities, Apple suffered significantly. The company informed customers that the shipments for the iPhone 14 will be delayed in a statement at the time.
Foxconn intends to invest roughly $1 billion to establish an iPhone manufacturing facility in Bengaluru, according to press leaks.
Foxconn Chief Executive Young Liu said, “Foxconn will continue to cooperate with local governments to seek the most advantageous development possibilities for the company and all stakeholders.
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