Foxconn

Foxconn's chairman says global chip shortage to have 'limited impact' on customers

22 February 2021 | Abigail Opiah

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Foxconn’s chairman revealed on Saturday that there will be “limited impact” from a chip shortage that has impacted the semiconductor and automotive sector.

Reuters reported that Liu Young-way, chairman of the manufacturing conglomerate formally known as Hon Hai Precision Industry Co Ltd said that since most of the customers Foxconn serves are large customers, they all have “proper precautionary planning”.

He also anticipates that the company will do well in the first half of 2021 because there is still an increase in demand for laptops, gaming devices and other electronics boosted by the COVID-19 pandemic.

The company announced in January 2021 and since the combined sales of NT $5,002.18 Yi Yuan, the month reduces 29.92%, an increase over last year 37.21%. Year-to-month cumulative sales of NT $5,002.18 Yi yuan, an increase over last year 37.21%.

The above revenue figures are the figures announced and reported by Hon Hai Precision to the Taiwan Stock Exchange every month. The final revenue figures are subject to the financial report certified by an accountant.

One example of Foxconn’s large customers is technology company Apple (NASDAQ: AAPL), with Reuters adding that it will face minimal impact because of its size and its suppliers’ tend to prioritise it.

Liu also added that the company was still looking for semiconductor purchase opportunities in Southeast Asia.

This comes after the company losing a bid to take over a stake in Malaysia-based 8-inch foundry house Silterra.

Elsewhere, Porsche’s chief executive warned on Monday that the German luxury automaker’s daily operations could be affected over the coming months caused by the global chip shortage.