Foxconn increases revenue to a record in 2022
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The consolidated revenue of Hon Hai Precision Industry Co., a major Taiwanese electronics manufacturer, rose to a record NT$6.622 trillion ($215.84 billion) in 2022 from NT$5.994 trillion in 2021. This is reported Focus Taiwan.
Foxconn is the trade name of the Taiwanese firm Hon Hai Precision Industry. Since 2005, it has held the status of the largest company in Taiwan, employing over a million people. It is one of the ten largest manufacturers of computer components.
Hon Hai, which assembles iPads and iPhones for Apple Inc, said the figure showed a 10.47% year-over-year increase in consolidated revenue compared to 2021. Last December, Hon Hai’s revenue was NT$629.34 billion, up 14.2% from the previous month but down 12.3% from the previous year.
Compared to November, Hon Hai said December saw double-digit revenue growth for its four core computer components and smart consumer electronics business units as operations at its Zhengzhou manufacturing facilities in China returned to normal. Cloud and network devices also showed strong monthly growth, the company says. Also, Hon Hai’s new software platform for electric vehicles has begun to generate revenue for the company.
In the fourth quarter of last year, the company’s revenue was NT$1.957 trillion, up 12.06% from the previous quarter and up 3.54% from the previous year.
At the end of November at the Foxconn factory in the Chinese city of Zhengzhou started “large-scale protests”. This was reported by AFP and Reuters. This plant is the world’s largest enterprise for the production of iPhone smartphones. Then the management of Foxconn Technology Group suggested give 10,000 yuan ($1,400) to those workers who immediately leave the plant and go home.
In December, The Wall Street Journal, citing its own sources informedthat the decision of the Chinese Communist Party to abandon the policy of zero tolerance for COVID-19 was largely influenced by a letter from Foxconn Technology Group founder Terry Gou. Gou said in a letter to party leaders that maintaining tight coronavirus restrictions could see China lose a key role in global supply chains, sources said.
National Health Commission of China on Wednesday, December 7, announced about the most significant easing of coronavirus restrictions in the country since the beginning of the pandemic.
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