iPhone maker Foxconn's revenue slumps after Covid outbreak, unrest at China plant
Foxconn said November revenue totaled 551.1 billion new Taiwan dollars , down more than 29% versus October and over 11% lower compared to Nov. 2021.
The Taiwanese firm said the fall was due to "production gradually entering off-peak seasonality and a portion of shipments being impacted by the epidemic in Zhengzhou." Zhengzhou, a city in China, is home to the world's largest iPhone assembly plant, which is run by Foxconn. In late October, the factory had a Covid outbreak which Foxconn battled to get under control.Foxconn workers at Taiwanese firm's Zhengzhou, China factory, walked out over a pay dispute with the company. The Zhengzhou factory is estimated to account for more than 70% of Apple's global assembly of iPhones.
Foxconn said the fall was due to "production gradually entering off-peak seasonality and a portion of shipments being impacted by the epidemic in Zhengzhou." The company gave no further details. Zhengzhou, a city in China, is home to the world's largest iPhone assembly plant, which is run by Foxconn.
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