Apple’s biggest supplier, Foxconn, says its revenue last month fell by 11.65% compared to the same period in 2022 due to weaker demand for electronics.
This information was disclosed by Foxcomm in their financial statement released on February 5, 2023.
Foxconn said in a statement on Sunday that revenue from computing, smart consumer electronics, cloud computing, and networking products declined in February from a year earlier “due to conservative customers’ pull-in”.
“Based on the revenue performance in the first two months, the outlook for the first quarter of 2023 is roughly in line with market expectations,” the company added.
Foxconn added that operations at the world’s biggest iPhone factory in the Chinese city of Zhengzhou are recovering from COVID disruptions making the demand of the product fall.
In November, 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.
Two weeks later, protests erupted at the plant, which disrupted manufacturing as thousands of workers left production lines making most of its users sort for our alternation like samsungs etc.
As one of the world’s largest technology companies, Apple must ensure they have a secure supplier network so they can continue providing customers with innovative products despite any unforeseen challenges posed by global events or market conditions. It also serves as an important reminder that businesses need reliable suppliers who can provide quality goods and services without disruption, even during times of crisis or market volatility.
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