• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About Strata-gee
  • Contact Us
  • Free Newsletter
  • Sponsor Strata-gee
  • Privacy Policy
  • Latest Posts
  • Strategy
  • Technology
  • Products
  • People
  • Statistics
  • Financial
  • Legal
  • Economic Data
  • Shows & Events

Strata-gee.com

Strategy in TECH...

Crestron Infra-Bass
You are here: Home / Manufacturers / Foxconn Raises Outlook for Year, Cites Improving Supply Chain Situation

Foxconn Raises Outlook for Year, Cites Improving Supply Chain Situation

June 2, 2022 by Ted Leave a Comment

A Foxconn factory

Hon Hai Precision Industry Co., better known as Foxconn, the world’s largest contract manufacturer, surprised many on Tuesday when they announced they were raising their outlook for the quarter and for the year based on what they say is improving supply chain stability in China. The company is one of the largest suppliers for many companies, including Apple, Inc.

See more on what Foxconn is seeing in the supply chain

Foxconn reported revenues of 486.46 billion New Taiwan dollars ($16.76 billion) in April, a drop of 4.1% from the previous month. However, other Apple suppliers including Pegatron (iPhone assembler) and Quanta Computer (MacBook manufacturer) saw revenues slide 35% and 40% respectively in the same monthly comparison due to the Shanghai lockdowns, according to a report in the Nikkei.

It’s notable that Foxconn is contracted by a wide range of clients beyond Apple, including Google, Facebook, HP, and Dell. The Taiwanese company maintains no fewer than 30 factories in China, making that country its most important manufacturing center.

Savant

Company Upbeat on Results

Company chairman Young Liu was upbeat in describing what the company is currently seeing.

“The overall lockdown impact on Foxconn is rather limited. You can tell from our revenues in April, and May’s performance is also better than we estimated,” Liu said, in reference to strict COVID containment measures imposed in and around Shanghai.

“We previously forecast this year we would maintain a similar level from last year, after factoring in inflation, war [in Ukraine], and other uncertainties, but now we think the full year will be better than our estimate,” Liu added.

How Has Foxconn Been Able to Outperform Others?

So why has Foxconn been able to perform better than others? During the current COVID outbreak in China, the company has been able to – with government approval – operate under what’s known as closed-loop measures. This system of managing essentially has employees live on the factory compound and restricts their movements in and out of the factories and dormitories in a bid to prevent the spread of COVID infections.

AudioControl Single Zone Amps

As a result of this process, while others may have been closed down, Foxconn continued to operate almost normally. The company further said that product development was continuing and new product introductions would be “proceeding as normal.”

COVID Issues Expected to Continue; Looks to Advance Closed-Loop System

Foxconn says that it will continue to monitor COVID closely in China. It will also study ways to further improve its closed-loop operational process for even better results, as they believe the risk of supply chain issues continues. Their goal is to eliminate any disruption to their production.

“We think such COVID controls will continue to happen, and it is our operation focus to make sure the facilities can keep operating,” Liu said.

See more on Foxconn by visiting: foxconn.com.

Share this post:

  • Tweet
  • Click to share on Reddit (Opens in new window) Reddit
  • More
  • Click to email a link to a friend (Opens in new window) Email
  • Click to print (Opens in new window) Print

Like this:

Like Loading...

Related

Filed Under: Asian Connection, Management, Manufacturers, News, Strategy, supply chain Tagged With: Foxconn, Hon Hai Precision Industry Co.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


The reCAPTCHA verification period has expired. Please reload the page.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Search

Sign-Up for Our FREE Newsletter

loader

Latest Posts

T-Day+1: Tariffs…And So It Begins…

**UPDATED 5/22/25** - See a Selection of Tariff Increases from Around the … [Read More...] about T-Day+1: Tariffs…And So It Begins…

Harman Hits Voxx Int’l & Klipsch Group with Major 13-Count Lawsuit

Something tells me these companies - Harman International Industries, Inc. and … [Read More...] about Harman Hits Voxx Int’l & Klipsch Group with Major 13-Count Lawsuit

  • T-Day+1: Tariffs…And So It Begins…
  • On Fire, Sonance Acquires Blaze Audio in Pro Audio Expansion
  • Masimo Tells SEC It Was the Victim of a Cyberattack
  • Masimo Sells Sound United to Harman; Excited? Temper Your Enthusiasm

Categories

Sponsors

Crestron Infra-Bass
AudioControl Single Zone Amps
Sonance James Small Aperture
Savant
Oasys Residential Technology Group

Tag Cloud

acquisition Amazon Apple AudioControl B&W Bowers & Wilkins CEDIA CEDIA Expo CES Control4 Core Brands COVID-19 Crestron D&M Holdings Denon Emerald Expositions Foxconn Gibson Brands Gibson Guitar Google Henry Juszkiewicz Hon Hai Precision Industry Co. housing starts Integra Joe Kiani LG Marantz Masimo Nortek OLED Onkyo Panasonic patent infringement Pioneer Samsung Savant Sharp smart home SnapAV Snap One Sonos Sony Sound United SpeakerCraft Toshiba

Footer

Got News?

HEY PR & Marketing Pros: Have NEWS for Strata-gee readers?

Send it to: HotNews@strata-gee.com

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Sponsor Strata-gee

Strata-gee Ads

Archives

Translate

Ted Green Bio

A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

Follow Ted Green

  • Facebook
  • X
  • LinkedIn
  • Instagram

Copyright © 2025 Strata-gee.com · The Stratecon Group, Inc. All Rights Reserved · Log in

%d