Taiwan-based Foxconn makes electric vehicles for Lordstown Motors Corp and has a contract to make Fisker Inc's second car model, PEAR. Photo: Reuters
Apple supplier Foxconn expects business to be “flat” in 2023 with rising inflation and Covid restrictions ramping up again in China, Nikkei Asia reported.
Chairman Young Liu said he expects demand for consumer electronics and smart electronics to be weak, said the report, adding that Foxconn has already taken a hit from Covid disruption at its key Zhengzhou factory.
Read the full report: Nikkei Asia
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