6th March 2023


Apple supplier revenue fall

Foxconn, Apple's biggest supplier, says its revenue fell by 11.65% in February compared to the same period in 2022 due to weak demand.

Although February revenue was more than $13bn (£10.8bn), smart consumer electronics and cloud and networking products declined in February from a year earlier "due to conservative customers' pull-in.”

Operations at the world's biggest iPhone factory in Zhengzhou are still recovering from Covid disruptions. The firm also said it was exploring new opportunities in India.