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Foxconn is expecting the existing component shortage to worsen for the remainder of 2021, and it will ultimately impact consumer electronics giants like Apple and Samsung, with some parts already seeing back-orders into 2022.
Foxconn is expecting the existing component shortage to worsen for the remainder of 2021, and it will ultimately impact consumer electronics giants like Apple and Samsung, with some parts already seeing back-orders into 2022.
Apple assembly partner and iPhone manufacturer Foxconn netted $1 billion of income during the second quarter of 2021. Despite beating analysts estimates, the company expects a slowdown due to part shortages affecting the entire industry.
Bloomberg, the company expects shortages to extend into the second quarter of 2022, although it won t see an impact to its business greater than 10%. Foxconn Chairman Young Liu said the component shortages would be worse in the second quarter than they were in the first quarter.