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Manufacturer claims iPhone component shortage is easing

Hon Hai Precision Industries owns Foxconn

The parent company of iPhone assembler Foxconn says that shortages of certain components are reducing, and "overall supply constraints" will ease by Q3 2022.

Backing up the White House's expectation that chip shortages will last until the second half of 2022, Hon Hai Precision Co says there are already signs of easing.

According to Bloomberg, spokesman James Wu said at a company event that there will be a major improvement for certain components in the first quarter. Then "overall supply constraints" will ease by the second half of the year.

Wu said that power management chips are still in short supply, however. In all, the spokesman said that the company expects its first-quarter revenue to be little changed from last year.

Hon Hai chair Young Liu also spoke at the event, and reported that the company will reveal two EV cars in 2022.