Apple supplier Foxconn sees challenges ahead in China COVID-19 curbs, inflation – CNA

TAIPEI: Apple supplier Foxconn warned that current-quarter revenue for its electronics business including smartphones could slip as growth slowed amid rising inflation, cooling demand and escalating supply chain issues partly due to lockdowns in China. The Taiwanese firm, the world’s largest contract electronics maker, has grappled with a severe shortage of chips like other global manufacturers, which has hurt smartphone production including for its major client Apple. While the company reiterated that COVID-19 controls in China only had a limited impact on its production as it kept workers on-site in a “closed loop” system, demand for its products in the…