Apple supplier Foxconn expects low demand for consumer electronics in 2023

Apple supplier Foxconn expects low demand for smart consumer electronics this year, as the manufacturer just reported a 10% fall in fourth-quarter profit from a year earlier.

This dip in the last quarter comes after Foxconn faced protests after a COVID-19 outbreak in November last year. With factories closed or working at low capacity, these events affected the manufacturer’s profit as well as Apple’s, which also had a revenue fall in its usual best quarter.

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Apple supplier Foxconn warns on consumer electronics demand as Q4 profit dipsApple Inc supplier Foxconn said on Wednesday it expected smart consumer electronics demand would decline slightly this year, as it reported a 10% fall in fourth-quarter net profit from a year earlier, in line with analysts estimates. It makes sense, a mobile phone is more expensive than a high end laptop these days.
Source: Reuters - 🏆 2. / 97 Read more »