Hon Hai Precision (Foxconn) maintained its annual growth outlook, citing a cautious optimism about Q4 after revenue in the July to September period increased 24.4 per cent year-on-year to a record TWD1.7 trillion ($53.8 billion).

However, the contract electronics manufacturer noted in a statement the dynamics of inflation, Covid-19 (coronavirus) and the supply chain still need to be closely monitored.

Revenue in the opening nine months grew 13.7 per cent to TWD4.7 trillion, also a record for the company.

Foxconn noted new product launches and mass production resulted in double-digit growth for smart consumer electronics, and cloud and networking products.

Computing goods, and components and other products also generated significant growth.

Foxconn will release full results for Q3 on 10 November.

In July, Foxconn upped its full-year guidance from an original “flattish expectation”.