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.