Major Apple supplier Foxconn’s net profit plummeted 23.7% in the fourth quarter of 2019, the company has revealed.
While Foxconn has been hit hard by COVID-19, this period actually ends before the extent of the coronavirus became clear. The quarter in question ended December. The earliest known infection of coronavirus occurred on 17 November 2019 in Wuhan, China.
The ongoing COVID-19 pandemic won’t stop Apple from launching its 2020 iPhone lineup on schedule, according to a new report published Monday — but it could cause “disruptions” for future Apple products.
Cupertino’s largest manufacturing partner, Foxconn, is slowly recovering after the coronavirus outbreak last month caused huge labor shortages and factory closures. But Bloomberg warns Apple isn’t out of the woods yet.
China’s production pipelines are finally getting back into full swing just in time to start building the 2020 iPhone.
Foxconn, Apple’s top iPhone assembler, says it has hired enough workers at all major Chinese plants to meet seasonal demand for iPhone production, in what could be a strong signal that the labor shortages in China caused by COVID-19 are starting to get back to normal.
It’s apparently nearly back to business as usual at Foxconn, the company that assembles most iPhones. Its general manager says plants in China and Vietnam are once again getting the components they need.
Production had been tremendously slowed by the COVID-19 outbreak in China, but the epidemic is now nearly over in that country.
Apple’s biggest contract manufacturer, Foxconn, endured a rough February as the COVID-19 coronavirus outbreak worsened in China.
The company, which is also the world’s biggest electronics manufacturer, suffered its biggest monthly drop in revenue in around seven years. Its earnings, announced Thursday, show an 18.1% decline in revenue versus the same period last year. This marks the company’s third straight month of decline.
Apple manufacturer Foxconn hopes to resume regular production in China by the end of March.
Foxconn’s operations, which include iPhone production lines, have been severely impacted by the outbreak of the COVID-19 virus. The world’s largest electronics contract manufacturer previously said it expects its full-year revenues to take a hit.
Apple manufacturer Foxconn, the world’s largest contract electronics manufacturer, has hired a man dubbed the “SARS hero” by Chinese state media as part of its efforts to combat the spread of coronavirus.
83-year-old scientist Zhong Nanshan is credited with finding the right way to treat SARS, the severe acute respiratory syndrome caused by a novel coronavirus, which spread between late 2002 and mid-2003. Foxconn says that he will act as a consultant for its coronavirus prevention and rehabilitation efforts.