Foxconn shrugs off China lockdown concerns after record Q1

Key iPhone assembler optimistic as smaller rival Pegatron predicts slowdown

Foxconn, the world's biggest contract manufacturer, reported strong first quarter results on May 12 despite recent supply chain disruptions in China. © Getty Images

LAULY LI, Nikkei Asia tech correspondent

May 12, 2022 15:21 JST

Updated on May 12, 2022 19:08 JST

TAIPEI -- Key iPhone assembler Foxconn said it will be able to maintain its revenue levels this year despite the monthlong COVID lockdowns in China that have thrown supply chains into turmoil.

The Taiwanese company reported record quarterly revenue for January-March on Thursday, with Foxconn Chairman Young Liu telling investors that the company has been able to cope with the lockdowns in Shanghai and nearby areas.