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Foxconn sets sales record over strong demand for 5G iPhones

Foxconn’s parent company Hon Hai has beaten expectations with record increased earnings due to demand for Apple’s 5G iPhone 12 range.

Foxconn originally said it would return to full production capabilities by the end of March.Foxconn’s profits were badly hit by the coronavirus in the first quarter of 2020

Hon Hai-owned Foxconn was initially been hit by coronavirus issues in early 2020, but the iPhone assembler’s fourth quarter results beat expectations. The company’s revenue for the quarter ending December 2020 was $72 billion, up from an expected $64.8 billion.

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