Robert Besser
28 Nov 2022, 20:25 GMT+10
TAIPEI, Taiwan: After thousands of employees quit, Foxconn's flagship Zhengzhou iPhone plant in China anticipates a reduction in November shipments, according to media reports.
Dissatisfied over strict Covid restrictions, workers at the Foxconn plat have quit, disrupting iPhone production before Christmas and January's Lunar New Year holiday, after some workers were either put into isolation or fled the plant.
Additionally, local media reported that Foxconn workers clashed with security personnel.
Factory officials have said that more than 30 percent of the factory's November production could be affected by the unrest.
The factory is currently Apple's only site that makes premium iPhone models, including the iPhone 14 Pro. Further, it is believed that the factory is unlikely to resume full production by the end of November.
"The worker unrest at Foxconn's plant in China could weigh on Apple's November iPhone shipments," Victoria Scholar of Interactive Investor said, as reported by Reuters.
"Apple is still viewed as one of the more resilient stocks in the tech sector... However, Apple continues to hold off from providing official guidance given the macroeconomic uncertainty," Scholar added.
Meanwhile, U.S. retailer Best Buy said last week that it expected high-end iPhones to be in short supply at stores this holiday season.
Media reports detailed how Foxconn's Zhengzhou iPhone factory saw workers smashing surveillance cameras and windows, which was confirmed with footage uploaded on social media.
Meanwhile, KGI Securities analyst Christine Wang said if the protests continued through December, some 10 million iPhones will not ship, which would be 12 percent lower than iPhone shipments in the last quarter of 2022.
The Zhengzhou plant, employs more than 200,000 workers. It has dormitories, restaurants, basketball courts and a football pitch, on an area of 15 million-square-feet.
Get a daily dose of Bangladesh Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Bangladesh Sun.
More InformationDubai [UAE], February 8 (ANI): The International Cricket Council (ICC) congratulated Australia's Aaron Finch for a wonderful international career that ...
Srinagar (JammuKashmir) [India], February 7 (ANI): As many as three terrorists associated with proscribed terror outfit LeT were arrested in ...
New Delhi [India], February 7 (ANI): India U19 Women's T20 World Cup winning skipper and batter Shafali Verma said on ...
Mumbai (Maharashtra) [India], February 7 (ANI): A total of 409 players will go under the hammer during the auction of ...
New Delhi [India], February 7 (ANI): India are all set to take on the mighty Aussies in the Border-Gavaskar Trophy ...
Nagpur (Maharashtra) [India], February 7 (ANI): Ahead of the first Test of the Border-Gavaskar Trophy against Australia, Indian batter KL ...
NEW YORK, New York - Stocks ended sharply higher on Tuesday following mixed comments by Federal Reserve Chairman Jerome Powell.Powell ...
NEW YORK CITY, New York: The Wall Street Journal reported this week that the US Federal Trade Commission is preparing ...
VEVEY, Switzerland: In an interview with Frankfurter Allgemeine Zeitung this week, Nestle's Chief Executive Mark Schneider said the world's largest ...
WASHINGTON D.C.: Despite the efforts of the Federal Reserve Bank to cool the job market to help curb record-high inflation, ...
NEW YORK, New York - A sharp rise in U.S. Treasury yields kept buyers at bay on Wall Street on ...
WASHINGTON D.C.: A report released this week detailed how, in January, layoffs in the US reached a more than two-year ...