IPhone Assembler Foxconn Expects ‘Unprecedented’ First Quarter

People enter the Hon Hai Precision Industry Co. headquarters ahead of the company's annual general meeting in New Taipei City, Taiwan, on June 23. Photo: Bloomberg

(Bloomberg) — Key iPhone assembler Hon Hai Precision Industry Co. may achieve an “unprecedented” performance in the first quarter, according to Chairman Young Liu.

Shares in Hon Hai, the world’s largest contract manufacturer of electronics for global brands from Nintendo Co. to Apple Inc., climbed as much as 1.5% in Taipei. Manufacturers around the world are racing to build up inventory out of the fear that outbreaks of the omicron variant and other uncertainties could further disrupt their supply chain.