the taiwanese giant Foxconn Technology Grouplargest provider of Manzanahas presented its economic balance for the month of January in which it announces a sales record of 22,000 million dollars (660.4 billion Taiwan dollars). This is the highest historical figure recorded by the company in said month, exceeding by 48.1% the income obtained in January 2022.
Similarly, the economic data for January represent an increase in net profits of 5% compared to December. All this is due to the fact that its enormous plant installed in Zhengzhou (in the Chinese province of Henan) has regained its original pulse, as it was the manufacturer 85% of iPhones. Here the main assembly of iPhone 14 Pro and iPhone 14 Pro Max. And it is necessary to remember that at the end of last year it saw its production slow down due to the government restrictions imposed due to the increase in Covid-19 cases, as well as the worker protests as a result of the precarious economic situations to which they were subjected.
Tim cooking, the company’s CEO, says December revenue plummeted and iPhone supplies failed to meet surging demand at crucial periods like Christmas. In this way, the income of the iPhone fell from 71.6 billion to 65.8 billion dollars each year progressively. The government restrictions They have not helped to improve the situation either.
we are before the world’s largest iPhone assembly plant and now it has managed to recover its usual economic data, even exceeding it. In this way, the double-digit monthly and year-on-year growth in the smart consumer electronics segment encourages them to continue growing and to have an optimistic outlook for the future. In turn, the computer products business grew due to a better supply of components and greater customer acquisition.
With these data in hand, Foxconn expects to close the first quarter of 2023 with unbeatable results, exceeding even previously established market expectations. Something that has added value if one takes into account the situation of economic recession that is devastating the entire world and that especially affects the technology sector.
After the reactivation of its production, once the restrictions were concluded, Foxconn appointed Michael Chiang as a new senior project manager to lead the division that assembled iPhone models affected by the production disruptions that hit China during the last quarter of last year. He replaces veteran Wang Charng-yang, who will remain on the board of directors.
According to The Wall Street Journal, Apple could be putting pressure on Foxconn to move part of the production outside of China, thus trying to reduce its dependence on the Taiwanese firm and distributing its orders among a greater number of suppliers.
Everything indicates that India will take over a part of the production of iPhones. The country has committed to quadruple the electronics manufacturing business by 2026. In this sense, Foxconn has announced a investment of 500 million dollars to expand its manufacturing, especially semiconductors, in this new area.
Your last trades
Foxconn recently announced the expansion of its factories of Vietnam to help Apple diversify its production outside of China. Specifically, it was made with some land of 45 hectares in an industrial park in the Vietnamese province of Bac Giang for an amount of $62.5 million. The purchase has already been filed with the Taiwan Stock Exchange and will involve a lease until February 5, 2057.
This new plot adds to the 50.5 hectares with which Foxconn already has for the manufacture of Apple Watch and MacBook outside of China, which would mean 30,000 new jobs and an investment of 300 million dollars. The destination would be the large factory center of Big Tech; bac giang.
In another order, both Foxconn and other Taiwanese technology providers are increasing their production capacity in Mexico Facing the demand for electric vehicles and servers, being the North American country one of the largest recent sources of income for the company. It will distribute its electrical manufacturing between Wisconsin, Ohio and Mexico.