Foxconn, a manufacturer of iPhones, impacted by COVID restriction



Foxconn, an Apple supplier, claims that as a result of disturbances at the world’s largest iPhone factory, its November revenue was down 11% compared to the same month in 2021.

It claims that coronavirus restrictions at its plant in Zhengzhou, China, are the cause of the drop.

Despite earning a record 5.9 trillion New Taiwan Dollars (£160 billion) from January to November, its revenue was down 29% from October.

Compared to the same time frame in 2021, that represents an increase of 13.5 percent.

The electronics manufacturer, which also makes game consoles like the PlayStation 5, has said that “strong sales” and “better components supply” are among the reasons for its growth. In November, the company said that restrictions on the coronavirus were to blame for the drop.

A statement issued by the Taiwan-based company stated, “The overall epidemic situation has been brought under control, with November being the most affected period.”

“[We] are slowly moving in the direction of restoring normal production capacity.”

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Protests affect production

In an effort to bolster morale among its factory workers, Foxconn has offered a bonus of 1,000 yuan (£117) to those who refer a friend or family member.

In November, footage of irate protests at the factory was widely shared online, amid widespread protests in China against the country’s zero-Covid policy.

Despite high daily case numbers, China has since signaled a change in its Covid stance and eased some virus restrictions.

At the beginning of December, lockdown measures were lifted in dozens of districts in Guangzhou and Shanghai.

A “new situation” was also mentioned by the vice-premier of the nation.

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