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Technology

Foxconn 'cautious' on 2022 outlook as global chip crunch lingers

Key iPhone assembler buck industry trend to log record Q3 earnings

Foxconn bucked the declining earnings trend among contract electronics assemblers in the July to September period, reporting a net profit of $1.32 billion on Nov. 12   © Reuters

TAIPEI -- Foxconn, the world's largest contract electronics manufacturer, is "cautious" about the outlook for next year due to the ongoing chip shortage, signs of inflation and fraught relations between Washington and Beijing.

The major iPhone assembler said it expects to see year-on-year revenue declines in certain segments in the current quarter, partly because of the high base of comparison from last year, though the company has so far managed to weather the global supply crunch that has caused havoc in the auto and other industries.

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