But Foxconn, the world's largest contract electronics maker,
said it expects fourth-quarter revenue in its key consumer electronics
business, which includes smartphones, to slump more than 15 percent from a year
earlier, without offering a reason. It forecast overall revenue to fall between
3 percent and 15 percent.
Foxconn previously said it felt only a small impact from the
year-long global chip shortage but had cautioned that rising COVID-19 cases in
Asia could hurt its supply chain.
Third-quarter revenue rose 9 percent on the year, Foxconn
said, reporting July-September net profit climbed 20 percent from a year ago to
TWD 36.98 billion. That was above a Refinitiv consensus estimate of TWD 31.73
billion.
Analysts had said they expected robust iPhone sales boosted
Foxconn's business in the third quarter, and the company secured more than 75
percent of assembly orders, including those for the latest iPhone 13. But they
cautioned that supply chain problems could mute any further near-term increase
in orders at Foxconn.
Apple said last month that supply chain woes cost the
company $6 billion in sales during the July-September quarter, and that the
impact would worsen during the year-end holiday period.
"In the short term, Hon Hai's iPhone 13 shipments will
continue to be affected by the chipset shortage, something that Tim Cook also
confirmed" on an Apple earnings call, Fubon Research wrote in a note dated
November 8. © Reuters
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