iPhone china lockdown

iPhone SOS! Foxconn Seen Risking 20% Sales Drop in Worst-Case Covid Shutout

8Nov

By adminNo Comments

Technology

iPhone SOS! Foxconn Seen Risking 20% Sales Drop in Worst-Case Covid Shutout

[ad_1] Morgan Stanley analysts have put a value on how much revenue is at risk for Foxconn Technology Group if its Zhengzhou operation is unable to ship any iPhones. Morgan Stanley analysts have put a value on how much revenue is at risk for Foxconn Technology Group if its Zhengzhou operation is unable to ship any iPhones for the rest of the year as it battles a coronavirus outbreak. Though deemed unlikely, the worst-case scenario for Foxconn's main listed unit, Hon Hai Precision Industry Co., would result in a 20% shortfall in expected sales for the current quarter, analysts led by Sharon Shih wrote in a research note Nov. 7. That would also entail a 36% drop in revenue from production of Apple Inc.'s iPhone. Foxconn, the Taiwanese manufacturer best known for being Apple's key d...

Apple iPhone 14 hit by COVID curbs in China

[ad_1] Apple Inc expects lower shipments of premium iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted plant in China. Apple Inc expects lower shipments of premium iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted plant in China, dampening its sales outlook for the busy year-end holiday season.Demand for high-end smartphones assembled at Foxconn's Zhengzhou plant has helped Apple remain a bright spot in a technology sector battered by consumer spending cutbacks amid surging inflation and interest rates. But the Cupertino, California-based vendor has fallen victim to China's zero-COVID-19 policy, which has seen global firms including Canada Goose Holdings Inc and Estee Lauder Comp...

iPhone factory lockdown shows risks of China dependence, analysts say

[ad_1] Foxconn, Apple's principal subcontractor, has seen a surge in Covid-19 cases at its Zhengzhou site. The lockdown of Foxconn's Zhengzhou factory, the world's biggest producer of iPhones, has highlighted some of the risks of relying on zero-Covid China's manufacturing sector, analysts told AFP.Foxconn, Apple's principal subcontractor, has seen a surge in Covid-19 cases at its Zhengzhou site, leading the company to lock down the vast complex in a bid to keep the virus in check. Images then emerged of panicking workers fleeing the site on foot in the wake of allegations of poor conditions at the facility, which employs hundreds of thousands of workers. Foxconn is China's biggest private sector employer, with over a million people working across the country in its around thirty fact...