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Covid wave weighs on Foxconn profits

According to its own figures, Taiwanese Apple supplier Foxconn suffered a 12 percent drop in sales to 19 billion euros in December. This was due to production shortfalls caused by the Chinese Covid wave. Foxconn is the world’s largest electronics contract manufacturer. Despite the slump in December, the company can post a sales increase of a good 10 percent for the entire year 2022.

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