Apple supplier Foxconn forecasts tough year on China COVID curbs, inflation

Published by
Reuters UK

By Yimou Lee and Sarah Wu TAIPEI (Reuters) -Apple supplier Foxconn warned that current-quarter revenue for its electronics business including smartphones could slip as growth slowed amid rising inflation and cooling demand in locked-down China, as well as escalating supply chain issues. The Taiwanese firm, the world’s largest contract electronics maker, has grappled with a severe shortage of chips like other global manufacturers, which has hurt smartphone production including for its major client Apple. While the company reiterated that COVID-19 controls in China only had a limited impact on i…

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