Apple Supplier Foxconn Cautious on 2022 Revenue Outlook

Apple Supplier Foxconn Cautious on 2022 Revenue Outlook
People wear masks to protect themselves from COVID-19, while listening to the annual general meeting at the lobby of Foxconn's office in Taipei, Taiwan on June 23, 2020. Ann Wang/Reuters
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TAIPEI—Apple supplier Foxconn forecast on Friday that a global chip shortage would run into the second half of 2022 and its fourth-quarter revenue for electronics, including smartphones, would fall more than 15 percent.

Chairman Liu Young-way said during a conference call that Foxconn was cautious about its 2022 revenue outlook, citing uncertainties surrounding the coronavirus pandemic, inflation, geopolitical tensions, and supply chains.