iPhone assembler Foxconn expects ‘unprecedented’ first quarter as manufacturers build up inventory

  • The manufacturer’s chairman said performance may surpass past years and some staff may only get two days off for the week-long Lunar New Year holiday
  • Manufacturers are building up inventory out of fear that the Omicron Coronavirus variant could disrupt their supply chain

The Foxconn logo seen at the company’s headquarters in New Taipei City, Taiwan, on May 25, 2010. Photo: Reuters
Major iPhone assembler Foxconn Technology Group may achieve an “unprecedented” performance in the first quarter, according to chairman Young Liu.

“Our performance in the first quarter may surpass how we did in the past few years, and it is likely that some staff at key sites will only get two days off during the Lunar New Year holidays,” said Liu in prepared remarks for the Taiwanese company’s annual party on Sunday.

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