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Foxconn shrugs off China lockdown concerns after record Q1

Key iPhone assembler optimistic as smaller rival Pegatron predicts slowdown

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.

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