Foxconn reports drop in sales after China iPhone plant disruption

Taiwanese multinational Foxconn, which trades as Hon Hai Technology Group in China, has reported an 11 per cent downfall in sales for November from the prior year after shipments were affected by a Covid-19 outbreak in the Chinese city of Zhengzhou.

“The Company reported unaudited consolidated revenue of NT$ 551.1 billion for November 2022, down 29.04 per cent MoM (Month on Month) and 11.36 per cent YoY (Year on Year),” the company said in a statement.

“Due to production gradually entering off-peak seasonality and a portion of shipments being impacted by the epidemic in Zhengzhou, revenue in November declined MoM. However, the MoM decline was roughly in line with the company’s expectations,” the statement added.