Foxconn, one of the leading suppliers of Apple products, said revenue reached an annual record of NT$6.627 trillion, up 11 percent from a year earlier, in 2022.

Taiwan-based Foxconn reported gross profit of NT$400.1 billion (+10 percent), operating net profit of NT$173.8 billion (+17 percent) and net profit of NT$141.5 billion (+2 percent) in 2022.

Gross profit margin, operating profit margin, and net profit margin were 6.04 percent, 2.62 percent, and 2.13 percent, respectively, compared with 6.04 percent, 2.49 percent, and 2.32 percent in the previous year.

Foxconn’s reported Q4 revenue of NT$1.963 trillion (+4 percent), gross profit of NT$111.1 billion (–2 percent), operating net profit of NT$44.2 billion (–16 percent).

Foxconn Chairman and CEO Young Liu has pointed out that the Group’s revenue in 2022 reached a new record high of NT$6.6 trillion, resulting in an annual growth of over 10 percent.

The world’s largest contract electronics maker forecast revenues for the first quarter and 2023 to be flat, while it estimated revenues for smart consumer electronics to record significant growth for the first three months.

The Taiwanese company said net profit for the October-December quarter fell to T$40 billion ($1.31 billion) from T$44.4 billion in the same period the previous year.

In the fourth quarter, revenue for its key consumer electronics products was flat compared to a year ago, the company said in a statement, without elaborating. The group includes smartphones and makes up more than half of its total revenue.

Production of iPhones faced disruption ahead of Christmas and January’s Lunar New Year holidays, after curbs to control COVID-19 prompted workers to leave Foxconn’s factory lines at its massive campus in China’s Zhengzhou.

The company said previously production has resumed to normal in Zhengzhou, which produces the majority of Apple’s premium models, including the iPhone 14 Pro.