Foxconn’s revenue grows 44% thanks to iPhone 12

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Brian Adam
Professional Blogger, V logger, traveler and explorer of new horizons.
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Vaccination against the coronavirus is causing a certain pre-pandemic normality to recover. And this means that people once again trust the economy and go back to consuming everything that last year, in the face of uncertainty and confinement, they stopped consuming. Therefore, the demand for the iPhone 12 has increased at the beginning of the year and as a consequence Foxconn’s revenues grow 44% in the first quarter of 2021.

But all good news sometimes carries bad news. And it is that Foxconn itself has confirmed that in 2022 there could be a shortage of chips as a consequence of the low production during 2020 and the high demand for products in 2021.

Foxconn grows 44% in the first quarter of 2021 due to the high demand for the iPhone 12

According to a report by Bloomberg the income of Hon Hai Precision Indisutry Co.i.e. Foxconn, in the first three months of 2021 they reached 1.34 trillion NT $ (New Taiwan dollar). The figure is in line with the estimate that analysts had made.

And the increase in billing has not only been favored by the high demand for the iPhone 12. Teleworking and the increase in leisure time in homes have also caused an increase in demand for game consoles and servers.

Chip supply problems may occur in 2022 as a result of the pandemic

But not only individuals have been preparing to develop their work from home. Companies have also invested in technology to improve customers’ online services.

However, despite high demand for technology products and the foreseeable shortage of chips in 2022, Apple could play with some advantage. And this advantage would be the result of order TSMC’s own A-series chips and to negotiate complete production lines dedicated only to Apple. We will see how the fight for chips can affect Apple and its component suppliers in 2022.

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