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BREAKING
Al-Houthi: We find ourselves in the most sacred battle and the greatest position. We do not consider the sacrifices to be wasted losses; rather, we have given everything for the sake of this stance.
Al-Houthi: The Zionist scheme is undoubtedly a plot to enslave and exploit this nation. This is a fact, not an exaggeration.
Al-Houthi: Great sacrifice in the path of God only increases our steadfastness, determination, certainty, resilience, and cohesion.
Al-Houthi: The Zionist crime confirms the importance of Yemen's conscious and insightful position based on constants, values, and human ethics.
Al-Houthi: The Israeli enemy is a criminal who proves its brutality and monstrosity through all its criminal practices, void of any controls.
Al-Houthi: The Israeli enemy's record is one of terrible and horrific crimes, full of bloodshed against the Palestinian people and people in Lebanon, Syria, Iraq, and Iran.
Al-Houthi: The crime of targeting ministers and civilian workers adds to the Israeli enemy's criminal record in the region.
Al-Houthi: All of the martyrs were ministers working in civilian fields.
Sayyed Abdul Malik al-Houthi: We extend our sincerest condolences to all the martyrs' families, their loved ones, their colleagues, and our dear people.
Al Mayadeen's correspondent: An Israeli drone targeted a residential apartment in the al-Natour Square in the Sheikh Radwan neighborhood of Gaza City

Foxconn expects better supply chain in 2022's 2nd half

  • By Al Mayadeen English
  • Source: Agencies
  • 31 May 2022 17:10
2 Min Read

Taiwanese electronics manufacturer Foxconn expects improvements in its supply chain in the second half of this year and aims to capture around 5% of the global EV market by the end of 2025.

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  • Foxconn expects more stable supply chain in 2022's 2nd half
    People wear masks against the Covid-19 while attending the annual general meeting at the lobby of Foxconn's office in Taipei, Taiwan, on June 23, 2020 (Photo: Ann Wang, reuters)

The world's biggest contract electronics maker, Taiwan's Foxconn, said Tuesday that the year's second half is heading "in a better direction" as Shanghai's Covid-19 lockdown appears to be easing.

"We are quite confident in the stability of our supply chain for the second half of this year," Foxconn chairman Liu Young-way said at the annual shareholder meeting.

The Shanghai government will allow all residents in 'low-risk' places to go back to work starting Tuesday.

Foxconn is seeking to become the first electric vehicle (EV) maker "not short on material supplies", according to Liu, referring to a prolonged global chip shortage that has obliged carmakers to halt production and hurt smartphone production including Apple Inc.

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"A car that costs tens of thousands of dollars cannot be shipped because of a tiny chip worth fifty cents. This has been a pain for our customers," he said.

Foxconn is also aiming to capture around 5% of the global EV market by the end of 2025 and has said it is hoping to increase its capacity to make electric vehicles' chips, many of which are small lower-end integrated circuits including those used in power management.

The company had earlier this month warned that due to rising inflation, revenue for its electronics business including smartphones could slip this quarter, cooling demand and escalating supply chain issues partly due to lockdowns in China.

Foxconn reiterated that while China's strict Covid-19 restrictions had only a small impact on production as it kept workers on-site in a "closed-loop" system, demand for its products in the country has suffered as people remain locked in their houses.

Foxconn's shares closed up 2.3%, outperforming a 1.2% rise in the broader market. So far, they have gained 8.7% this year, giving the company a market value of $52.3 billion.

  • Shanghai
  • Taiwan
  • COVID-19 pandemic
  • COVID-19
  • Faxconn

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