Hon Hai Precision Industry, better known as Foxconn, says component shortages that have affected production for over a year are showing signs of easing.
Foxconn is the biggest assembler of iPhones; however, it also makes devices for Dell, Sony, Nintendo, and others.
There will be a major improvement in parts shortages in the first quarter, with “overall supply constraints” set to ease in the second half, James Wu, a spokesman for Hon Hai Precision Industry Co., said during a company event in Taipei on Thursday.
Power management chips are still in short supply, according to Wu. He also said that as companies build back inventory, they will likely maintain their inventory levels at a higher level than previously to ensure supply.
Notably, Foxconn intends to start production of EVs in Ohio this year. The company plans to unveil two EV models before year's end and revenue from automotive parts could reach $720 million in 2022.
More details in the full report linked below...
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Foxconn is the biggest assembler of iPhones; however, it also makes devices for Dell, Sony, Nintendo, and others.
There will be a major improvement in parts shortages in the first quarter, with “overall supply constraints” set to ease in the second half, James Wu, a spokesman for Hon Hai Precision Industry Co., said during a company event in Taipei on Thursday.
Power management chips are still in short supply, according to Wu. He also said that as companies build back inventory, they will likely maintain their inventory levels at a higher level than previously to ensure supply.
Notably, Foxconn intends to start production of EVs in Ohio this year. The company plans to unveil two EV models before year's end and revenue from automotive parts could reach $720 million in 2022.
More details in the full report linked below...
Read More