Apple supplier Foxconn ‘cautiously optimistic’ about fourth-quarter outlook amid global economic headwinds
- The Taiwanese company’s revenues hit a record high in September and the third quarter
- Foxconn warns it may still have to monitor inflation, Covid-19 and supply chain
But Foxconn said in a statement that it was “cautiously optimistic” about the outlook for the final three months of 2022, and maintained its full-year guidance of growth given in August, from previous guidance of flattish revenue.
“However, the dynamics of inflation, the pandemic, and the supply chain still need to be closely monitored,” the company said.
Formally known as Hon Hai Precision Industry, the company said revenue for September and the third quarter grew 40.39 per cent and 24.4 per cent on the year, respectively, both hitting record highs and beating its own expectations.
Revenue from smart consumer electronics, which includes its key smartphone business, showed strong double-digit growth in the third quarter, thanks to new product launches and “smooth mass production”, it added.