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Hon Hai reports record January revenues

02/05/2023 08:55 PM
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Hon Hai
Hon Hai's headquarters in New Taipei. CNA file photo

Taipei, Feb. 5 (CNA) Hon Hai Precision Industry Co. reported record-high January revenues of NT$660.4 billion (US$22.09 billion) following a full resumption of production at its COVID-hit iPhone plant in China's Zhengzhou.

In a statement Sunday, Hon Hai, known as Foxconn globally, said the figure marked a 48.15 percent year-over-year increase and a 4.93 monthly rise.

Last month's revenues topped Hon Hai's previous record for January of NT$500.2 billion set in 2021, with the contract electronics maker attributing the growth to a strong performance from its smart consumer electronics and computing products divisions.

According to Hon Hai, its smart consumer electronics division in January posted robust double-digit revenue both compared with the previous month and the same month last year after operations at its Zhengzhou plant returned to normal.

Meanwhile, revenues for its computing products division rose significantly from December last year as well as compared with January 2022.

However, two other business divisions -- cloud and networking technology, and components and other products -- saw monthly revenues drop between December and January, with Hon Hai citing the effects of the Lunar New Year holiday on the number of working days.

Near term, Hon Hai said that as its January revenues were slightly higher than targeted, its near-term operating outlook for the first quarter of 2023 would likely meet market expectations. h(By Jiang Ming-yan and Evelyn Kao)


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