Apple Supplier Foxconn Plans to Rely Less on China for Revenue

Foxconn Technology, one of Apple’s biggest suppliers, said it would rely less on China as a source of revenue as it diversifies production sites to strengthen supply-chain resilience

TAIPEI— Foxconn Technology Group, one of Apple ’s biggest suppliers, said it would rely less on China as a source of revenue as it diversifies production sites to strengthen supply-chain resilience.

About 70% of Foxconn’s revenue comes from China, said Young Liu, the company’s chairman. Going forward, the proportion coming from markets outside of China will continue to grow, he said in an earnings call Wednesday. Foxconn’s revenue in 2022 was 6.6 trillion New Taiwan dollars, equivalent to around $215 billion.

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