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Foxconn chairman expects “limited impact” from chip shortage on customers, Telecom News, ET Telecom




TAIPEI: The president of Apple Inc. supplier Foxconn said on Saturday that he expects his company and customers to face only a “limited impact” from a chip shortage that has rocked industries global automotive and semiconductor markets.

“Since most of the customers we serve are large customers, they all have proper precautionary planning,” said Liu Young-way, president of the manufacturing conglomerate officially known as Hon Hai Precision Industry Co Ltd.

“Therefore, the impact on these big customers is there, but limited,” he told reporters.

Liu said he expected the company to do well in the first half of 2021, “especially as the pandemic subsides and demand is still strong.”

The global spread of COVID-19 has increased demand for laptops, game consoles and other electronic devices. This prompted chipmakers to reallocate capacity to the automotive sector, which was expecting a steep decline.

Now, automakers such as Volkswagen AG, General Motors Co, and Ford Motor Co have cut production as chip capacity has shrunk.

Counterpoint Research says the shortage has spread to the smartphone industry, with application processors, display driver chips, and power management chips all facing a downturn.

However, the research firm predicts that Apple will face minimal impact, due to its large size and the tendency of its suppliers to prioritize it. Apple is Foxconn’s biggest customer.

Foxconn is exploring other areas for growth, including electric vehicles (EVs), and Liu said its MIH EV development platform now has 736 partner companies.

He expected two or three models to be presented by the fourth quarter, but did not expect EVs to make any obvious contribution to the company’s profits until 2023.

Liu also said the company is still looking for opportunities to buy semiconductor factories in Southeast Asia after failing to win a bid to take over a stake in 8-inch Silterra foundry. , based in Malaysia.

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