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Apple supplier Foxconn expects a 'flat' 2023 amid inflation, COVID

Key iPhone assembler says China plant lockdown will hit revenue this quarter

Apple supplier Foxconn has been struggling with disruptions at its key iPhone production site in China. (Photo by Ken Kobayashi)

TAIPEI -- Key Apple supplier Foxconn said on Thursday that 2023 will likely be "flat" in terms of revenue growth amid uncertainties about inflation and the pandemic, as well as the global geopolitical and economic situation.

Foxconn Chairman Young Liu said his company is closely monitoring the macroeconomic situation, but for now does not see any opportunity to massively grow revenue next year, partly due to this year's high base.

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