Foxconn foresees recovery amid global uncertainties

Taipei, Leading iPhone manufacturer Foxconn on Tuesday said that despite the global macro-economic factors affecting businesses worldwide, it will have a better than expected full-year performance as supply chain improves in China which is facing Covid lockdowns.
In a shareholders’ meeting at the company’s headquarters in New Taipei City, Young Liu, chairman of Foxconn, raised the company’s outlook for the current quarter and the full year, reports Nikkei Asia.
“We previously forecast this year we would maintain a similar level from last year, after factoring in inflation, war (in Ukraine) and other uncertainties, but now we think the full year will be better than our estimate,” Liu told shareholders.
Foxconn reported $16.76 billion in revenue in April, down 4.1 per cent from the previous month.