World’s biggest iPhone assembler signals easing chip crunch in Q1

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Updated 10 February 2022
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World’s biggest iPhone assembler signals easing chip crunch in Q1

  • Shortages in component parts, specifically computer chips, have hindered electronics production for over a year

RIYADH: Taiwan-based electronics company Hon Hai Precision Industry Co. said the chip shortage is easing, showing a promising first quarter. 

The firm, which is known to be the world’s biggest assembler of Apple’s iPhones, is expecting a slight change in revenue in Q1 when compared to the corresponding period a year earlier, Bloomberg reported, citing James Wu a spokesman of the firm.

Shortages in component parts, specifically computer chips, have hindered electronics production for over a year.

Market players such as Taiwan Semiconductor Manufacturing Co. along with carmakers such as Ford Motor Co. have projected the chip crunch will remain tight throughout 2022 – mainly due to the spread of Omicron –  and will bring about an ongoing impact. 

Accordingly, corporations have been advised to keep additional inventories than usual to ease the pain of the chip supply shortage.


QatarEnergy announces force majeure following Iran attacks: statement

Updated 04 March 2026
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QatarEnergy announces force majeure following Iran attacks: statement

DOHA: Qatar’s state-run energy firm on Wednesday declared force majeure following attacks on two of its main facilities that halted liquefied natural gas production and as Iran pressed missile and drone attacks across the Gulf.

“Further to the announcement by QatarEnergy to stop production of liquefied natural gas and associated products, QatarEnergy has declared Force Majeure to its affected buyers,” the company said in a statement.

QatarEnergy invoked the clause, which shields it from penalties and potential breach of contract claims from clients, after stopping LNG production on Monday.

Iranian drones attacked two of the company’s main production hubs in Ras Laffan Industrial City, 80 km north of Doha and in Mesaieed 40 km south of the Qatari capital, Doha’s ministry of defense said at the time.

The Gulf state is one of the world’s top liquefied natural gas producers, alongside the US, Australia and Russia.

On Tuesday, QatarEnergy said it would halt some downstream production of some products including urea, polymers, methanol, aluminum and others.

Qatar shares the world’s largest natural gas reservoir with Iran.

QatarEnergy estimates the Gulf state’s portion of the reservoir, the North Field, holds about 10 percent of the world’s known natural gas reserves.

In recent years, Qatar has inked a series of long-term LNG deals with France’s Total, Britain’s Shell, India’s Petronet, China’s Sinopec and Italy’s Eni, among others.