Apple’s biggest supplier Foxconn says its revenue in February fell by 11.65% compared to the same period in 2022 due to weaker demand for electronics.
However, reports BBC News, February revenue was more than $13 billion, the second highest figure on record for the month.
Foxconn added that operations at the world’s biggest iPhone factory in the Chinese city of Zhengzhou are recovering from COVID disruptions. Also over the weekend the firm said it was exploring opportunities in India.
Foxconn said in a statement on March 5 that revenue from computing, smart consumer electronics and cloud and networking products declined in February from a year earlier “due to conservative customers’ pull-in.”
In November 2022, Apple warned that shipments of its new iPhone 14 would be delayed after Chinese officials locked down a district in Zhengzhou where Foxconn’s mega-factory is located.
Separately, at the weekend Foxconn responded to reports that it had agreed to significantly expand its operations in India, after its chairman and chief executive Young Liu visited the country last week.
Media outlets reported that the firm planned to invest up to $1 billion in a major iPhone plant in Bengaluru. There were also reports that Foxconn’s investment in India would create around 100,000 jobs.
