November 05, 2024 22:00 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
China iPhone plant disruption: Foxconn reports big sales drop
Foxconn
Image Credit: File image by Ken Marshall on Flickr via Wikimedia Commons

China iPhone plant disruption: Foxconn reports big sales drop

| @indiablooms | 09 Dec 2022, 10:38 pm

Beijing: Multinational company Foxconn, which trades as Hon Hai Technology Group in China, has registered an 11 percent downfall in sales in November from the prior year as the shipment was badly hit due to the Covid-19 outbreak in Zhengzhou city.

"The Company reported unaudited consolidated revenue of NT$ 551.1 billion for November 2022, down 29.04 percent MoM (Month on Month) and 11.36 percent YoY (Year on Year)," read a statement issued by the company.

"Due to production gradually entering off-peak seasonality and a portion of shipments being impacted by the epidemic in Zhengzhou, revenue in November declined MoM. However, the MoM decline was roughly in line with the company's expectations," read the statement.

"At present, the overall epidemic situation has been brought under control with November being the most affected period by the epidemic," the statement said.

The Zhengzhou campus in central China is where the bulk of the world’s iPhone Pro handsets are assembled, making it critical to Apple’s ability to satisfy the demand for the latest generation, reports The Straits Times.

Hit by protests, China is rolling back COVID-19 restrictions in several cities including Zhengzhou.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Xi Jinping, Putin in Russia 22 Mar 2023, 02:56 pm
Related Videos