Â
>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<
Â
Â
Foxconn Technology Group, Apple Inc’s biggest iPhone maker, said Monday that it’s revising down its outlook for the fourth quarter due to the pandemic affecting some of its production in China’s Zhengzhou city.
The company said its visibility for the quarter was originally “cautiously optimistic.”
Foxconn is working to resume full production at its Zhengzhou plant as soon as possible after it has been hit by COVID-19 curbs and the Henan provincial government had made it clear that it will fully support the company, it said.
The firm reported that its October revenue rose 41% from a year earlier to 776.58 billion new Taiwan dollars (US$24.26 billion), boosted by the launch of new products and strong demand in the server market. Revenue was down 5.6% from the previous month.
Separately, Apple Inc on Sunday said it expects lower iPhone 14 Pro and iPhone Pro Max shipments than previously anticipated as COVID-19 restrictions temporarily disrupt production at an assembly facility in Zhengzhou, China.
“The facility is currently operating at significantly reduced capacity,” the iPhone maker said in a statement. “Customers will experience longer wait times to receive their new products,” it added.