Tag: apple china lockdown

China widens COVID curbs, Apple factory unrest adds to economy worries
23Nov By adminNo Comments
Technology

China widens COVID curbs, Apple factory unrest adds to economy worries

[ad_1] Chinese authorities imposed more restrictions on Wednesday to rein in a rapid rise in COVID-19 infections, adding to investors' worries about the economy. Chinese authorities imposed more restrictions on Wednesday to rein in a rapid rise in COVID-19 infections, adding to investors' worries about the economy just as fresh unrest at the world's largest iPhone factory highlighted the social and financial toll of these curbs.Across China, cities including the capital Beijing and financial hub Shanghai have closed malls and parks, and imposed limits on the movement of people arriving from elsewhere as infections neared record highs last seen in April. The measures are darkening the outlook for the world's second-largest economy and dampening hopes that China would significantly ease...
Read More
Apple supplier Foxconn adjusts production to avoid holiday blues
10Nov By adminNo Comments
Technology

Apple supplier Foxconn adjusts production to avoid holiday blues

[ad_1] Apple supplier Foxconn said on Thursday it expected smartphone revenue to fall this quarter and is adjusting production to prevent recent COVID-19 curbs. Apple Inc supplier Foxconn said on Thursday it expected smartphone revenue to fall this quarter and is adjusting production to prevent recent COVID-19 curbs at a massive iPhone factory in China from impacting holiday orders.Foxconn has grabbed headlines in recent weeks, with tight virus restrictions at its Zhengzhou plant, the world's largest iPhone factory, disrupting production and fuelling concerns over the impact of China's virus policy on global supply chains. The plant in China's industrial hub employs about 200,000 people. Speaking on an earnings call, Chairman Liu Young-way said the Christmas and Lunar New Year holiday...
Read More
Foxconn working ‘at fastest speed’ to restore vast China plant
10Nov By adminNo Comments
Technology

Foxconn working ‘at fastest speed’ to restore vast China plant

[ad_1] Taiwanese tech giant Foxconn said it was working quickly to resume full production at its giant factory in central China before the crucial holiday season. Taiwanese tech giant Foxconn, a principal Apple subcontractor, said Thursday it was working quickly to resume full production at its giant factory in central China before the crucial holiday season. Foxconn, also known by its official name Hon Hai Precision Industry, is the world's biggest contract electronics manufacturer assembling gadgets for many international brands. Most of its factories are in China, particularly the eastern city of Zhengzhou where lockdowns were imposed last month, in line with Beijing's zero-Covid policy, after a spike in infections. The huge facility of some 200,000 workers -- dubbed "iPhone...
Read More
Apple Stock’s Safe-Haven Status at Risk as iPhone Headwinds Mount
9Nov By adminNo Comments
Technology

Apple Stock’s Safe-Haven Status at Risk as iPhone Headwinds Mount

[ad_1] Apple Inc.’s status as a relative haven in this year’s bear market is under threat amid growing concern that iPhone sales are weakening. Apple Inc.'s status as a relative haven in this year's bear market is under threat amid growing concern that iPhone sales are weakening, portending further declines for technology stocks more broadly. Over the weekend, the Cupertino, California-based company said Covid-related lockdowns in China would cause shipments of its newest premium handsets to be lower than previously expected. Bloomberg News also reported that due to weaker demand, Apple expects to produce at least 3 million fewer iPhone 14s this year than first anticipated. The stock rose 0.6% on Tuesday, bringing its year-to-date decline to 21%. The Nasdaq 100 Index is down 32%....
Read More
Want iPhone 14 Pro or Max? Then read this
8Nov By adminNo Comments
Technology

Want iPhone 14 Pro or Max? Then read this

[ad_1] Apple Inc. is warning customers they'll have to wait longer to get its latest iPhone models after anti-virus restrictions were imposed on a contractor's factory in central China. Apple Inc. is warning customers they'll have to wait longer to get its latest iPhone models after anti-virus restrictions were imposed on a contractor's factory in central China. The company announcement Sunday gave no details but said the factory operated by Foxconn in the central city of Zhengzhou is “operating at significantly reduced capacity.” “We now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated,” the company said. “Customers will experience longer wait times to receive their new products.” Foxconn Technology Group said earlier it imposed anti-vi...
Read More