Itching to buy the latest iPhone 14 Pro or iPhone Pro Max? Apple says you should expect a long wait to get its new products.
The tech giant announced that its assembly factory in China is now operating at significantly reduced capacity.
Authorities on November 2 shut down a district home to Foxconn’s iPhone factory – the world’s largest – for seven days.
Apple’s news comes as China reiterates its commitment to zeroing out Covid.
“As we have done during the COVID-19 pandemic, we are prioritizing the health and safety of workers in our supply chain,” said a statement from Apple, which launched its new iPhone line in September. Who was
“We are seeing strong demand for the iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect shipments of the iPhone 14 Pro and iPhone 14 Pro Max to be lower than previously expected and customers will be unable to purchase their iPhone 14 Pro and iPhone 14 Pro Max. There will be a long wait to get new products.”
The announcement is likely to disappoint investors who were hoping that China would lift its Covid restrictions in the near future. Chinese stock markets rose sharply on Friday after rumors of an end to the Covid lockdown.
Beijing’s uncompromising approach to curbing the spread of the virus has come at a huge economic cost. But the country’s leader, Xi Jinping, who has personally endorsed the policy, has given no indication that it will soften any time soon.
Trade data and foreign exchange data due later on Monday could signal that the world’s second-largest economy is recovering from lingering Covid-19 restrictions, a prolonged property slump and the threat of a global recession. How is it dealing with challenges?
China’s third-quarter gross domestic product data showed its economy grew by a faster-than-expected 3.9 percent on an influx of government investment.
JEE News reported 5,643 new Covid infections on Sunday, the highest daily number in six months. Zhengzhou, where the Foxconn factory is located, is the capital of Hainan province in central China and home to about 10 million people. On Monday, it recorded 3,683 cases and 22 deaths.
Cases were also detected inside the factory, leading to a sudden shutdown that forced workers to flee the premises.
Foxconn, the world’s largest contract electronics maker, revised its fourth-quarter outlook due to China’s Covid control measures. The fourth quarter is typically a busy time for the tech company as demand for electronics picks up ahead of the year-end holiday season in the West.
The Taiwan-based company said it was working with the Henan provincial government to “end the epidemic and resume production at full capacity as soon as possible”.
Foxconn, formally known as Hon Hai Precision Industry, accounts for 70% of global iPhone shipments.
