2 years, 4 months ago

Foxconn says it’s restoring production at the world’s largest iPhone factory

Hong Kong CNN Business — Apple supplier Foxconn says it is “gradually” restoring production capacity at its sprawling campus in central China, which has been hit by Covid-19 restrictions and worker protests since October. The ongoing supply disruptions at Foxconn’s campus in the city of Zhengzhou were costing Apple roughly $1 billion a week in lost iPhone sales, Daniel Ives, an analyst at Wedbush Securities, had told CNN Business. Analysts said the production woes at iPhone City would speed up the pace of Apple’s supply chain diversification away from China. If Apple moves aggressively, more than 50% of iPhone production could come from India and Vietnam by the 2025/2026 fiscal year, versus the single-digit percentage currently, he added.

CNN
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