Home Trading ETFsStock Market Foxconn COVID woes may hit up to 30% of iPhone Nov shipments from Zhengzhou plant

Foxconn COVID woes may hit up to 30% of iPhone Nov shipments from Zhengzhou plant

by Reuters
© Reuters. FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company’s building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu

TAIPEI (Reuters) – Apple (NASDAQ:) supplier Foxconn’s COVID-19 woes at its vast iPhone manufacturing facility in China’s Zhengzhou city could slash the site’s November iPhone shipments by up to 30%,

a source with direct knowledge of the matter said.

The source, who declined to be identified as the information was private, said Foxconn is now working to boost iPhone production at its factory in the southern city of Shenzhen.

Foxconn referred Reuters to a statement it released late on Sunday, in which the company said the situation was gradually coming under control and Foxconn would coordinate back-up production capacity with its other plants to reduce any potential impact.

Apple did not immediately respond to Reuters request for comment.

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