Apple will lose 6M iPhone Pros due to unrest at China factor...| MENAFN.COM

Monday, 06 February 2023 12:29 GMT

Apple will lose 6M iPhone Pros due to unrest at China factory


(MENAFN) A person familiar with assembly operations predicts that unrest at Apple Inc.'s major manufacturing hub of Zhengzhou is going to lead to a production shortfall of close to 6 million iPhone Pro units the current year.

The individual, who requested not to be identified because the information is confidential, stated that the situation at the factory is still fluid and that the estimate of lost output may alter. The speed at which the Taiwanese corporation running the factory, Foxconn Technology Group, can return workers to the production lines following violent demonstrations against Covid limitations are going to be crucial. Production may be further delayed if lockdowns persist in the coming weeks.

On Monday in New York, Apple's shares dropped as much as 2.3 percent to USD144.74. By the end of last week, they had decreased by 17 percent so far this year.

Lockdowns and employee unrest have plagued the Zhengzhou campus for weeks as a result of Covid infections that made it difficult for Foxconn and the local government to control the outbreak. Following persistent food shortages, thousands of employees left in October, only to be replaced by new workers who protested pay and quarantine policies.

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