Shulou(Shulou.com)11/24 Report--

On December 6, Hon Hai (parent company of Foxconn) announced its results for November 2022. In November, the company's revenue was NT $551.1 billion, down 29% from a month earlier and 11% from a year earlier.

In the first 11 months of 2022, the company earned a cumulative revenue of NT $5.99 trillion, an increase of 13.56% over the same period last year and a record high for the same period in the previous year.

Founded in 1974, Hon Hai is a high-tech group (the world's largest contract manufacturer) specializing in the production of 3C products and semiconductor equipment, as well as a professional electronics manufacturer. The company is a major iPhone assembler and a parts supplier to companies such as Apple, which handles most of Apple's orders in labor-intensive industries.

The company said it was "gradually" moving towards normal production levels and said its outlook for the fourth quarter would be "broadly in line with market consensus".

At present, more than 90% of Apple's products are made in China, and in response to tight supply chains in China, Apple is turning to partners in India, Vietnam and other Asian countries to reduce its dependence on Chinese manufacturers, including Foxconn.

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