Apple supplier says its January monthly sales hit a record high as it recovered from Covid-19 disruptions in China.
In a sales update on Sunday, the Taiwanese manufacturing giant reported revenue of 660.4 billion Taiwan dollars ($22 billion) in January.
This is 48% more than the same period a year ago.
Likewise, it’s highest-ever level for that month.
Revenue was up nearly 5% compared to the previous month.
The company attributed its performance to a strong rebound at its sprawling campus in Zhengzhou, Central China.
According to Foxconn, operations are “returning to normal”. And product shipments have increased.
The company also stated that a “better component supply” aided sales.
Both smart consumer electronics, which includes smartphones and televisions, and computing products (including laptops and tablets), “showed strong dual rise”, according to Foxconn.
The figures demonstrated how Foxconn’s Zhengzhou campus l, also known as ”iPhone city”, wass revived after enormous setbacks.
The company’s problems began in October.
After which, employees left due to concerns about Covid-related workplace conditions and food shortages.
Due to a shortage of workers, bonuses were later offered to encourage them to return.
However, violent protests erupted in November.
Newly hired employees claimed management had broken their promises.
Workers had fought with security guards before the company finally offered them money to quit the facility.
As a result of the problems, analysts predicted that Apple would accelerate its supply chain diversification away from China.
Apple (AAPL) cited China as a crucial component in its lower-than-expected earnings last week.
CEO Tim Cook stated that the company’s issues in the country had hampered supply of the iPhone 14 Pro and iPhone 14 Pro Max.
Foxconn has since been able to restore normal operations at its facility.
According to Chinese state media, the Zhengzhou tree was almost fully operational last month.
Thereafter, reaching 90% capacity by the end of December.
The company also affirmed optimism for the future.
It said in a statement on Sunday, that its first-quarter outlook would undoubtedly meet analysts’ expectations.
Athough, it did not provide specifics.
Refinitiv polled analysts expect the company’s revenue to rise 4% from January to March.
