Foxconn Predicts Growth To Stall
By Joseph Waring
Hon Hai Precision (Foxconn) forecast revenue from smart consumer electronics products including iPhones to fall in 2023, after registering a decline in Q4 2022 profit.
In its 2022 earnings release, Foxconn predicted modest full-year growth in its cloud and networks, computing products, and components and other products divisions.
Foxconn forecast sales in Q1 and 2023 to be flat.
Net profit in Q4 2022 fell 10 per cent year-on-year to TWD40 billion ($1.3 billion).
Non-operating income grew threefold to TWD8.2 billion and tax expenses fell 23 per cent.
Smart consumer electronics revenue was unchanged. Foxconn did not provide the figure, though noted it accounted for 57 per cent of overall sales.
Foxconn previously revealed revenue grew 3.5 per cent to TWD2 trillion.
Full year capex rose 6.1 per cent to TWD97.9 billion.