Foxconn Cuts Revenue Outlook Following Coronavirus Outbreak
Apple's primary iPhone assembler Foxconn has slashed its 2020 revenue outlook after strict quarantines at its main base in China to guard against the coronavirus outbreak (via Bloomberg).
The company is now projecting a sales increase of 1% to 3% this year, Chairman Young Liu told Bloomberg News in a text message. That’s down from a Jan. 22 forecast of 3% to 5%, before the epidemic spread around the globe, and lags the 5.4% average of analysts' projections.
Foxconn's Zhengzhou plant won't resume production until February 10 following an extended Lunar New Year break, and the company now says that workers returning from outside Henan province will be sequestered for 14 days, while staff who reside within the province will be isolated for one week.
The manufacturer previously claimed the viral outbreak had had a "fairly small impact" on iPhone production, suggesting its factories in other countries like Vietnam, India, and Mexico had been able to fill the gap.
Apple last week closed all of its corporate offices, stores, and contact centers in mainland China through February 9 due to the Wuhan coronavirus outbreak. Apple has around 10,000 direct employees in China, across its retail and corporate divisions.
Close to 60 million people remain under lockdown in China. With the virus death toll rising in recent days, the goal of people returning to work on February 10 is looking increasingly less certain. As a result, the contagion is expected to disrupt Apple's Chinese iPhone supply chain as well as dampen consumer demand and overall economic growth.
The outbreak has killed 492 people worldwide, the majority of which are in China, and infected more than 24,500 people across 25 countries.
Popular Stories
Apple will adopt the same rear chassis manufacturing process for the iPhone SE 4 that it is using for the upcoming standard iPhone 16, claims a new rumor coming out of China. According to the Weibo-based leaker "Fixed Focus Digital," the backplate manufacturing process for the iPhone SE 4 is "exactly the same" as the standard model in Apple's upcoming iPhone 16 lineup, which is expected to...
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
A widespread system failure is currently affecting numerous Windows devices globally, causing critical boot failures across various industries, including banks, rail networks, airlines, retailers, broadcasters, healthcare, and many more sectors. The issue, manifesting as a Blue Screen of Death (BSOD), is preventing computers from starting up properly and forcing them into continuous recovery...
Israel-based mobile forensics company Cellebrite is unable to unlock iPhones running iOS 17.4 or later, according to leaked documents verified by 404 Media. The documents provide a rare glimpse into the capabilities of the company's mobile forensics tools and highlight the ongoing security improvements in Apple's latest devices. The leaked "Cellebrite iOS Support Matrix" obtained by 404 Media...
Apple is seemingly planning a rework of the Apple Watch lineup for 2024, according to a range of reports from over the past year. Here's everything we know so far. Apple is expected to continue to offer three different Apple Watch models in five casing sizes, but the various display sizes will allegedly grow by up to 12% and the casings will get taller. Based on all of the latest rumors,...
If you have an old Apple Watch and you're not sure what to do with it, a new product called TinyPod might be the answer. Priced at $79, the TinyPod is a silicone case with a built-in scroll wheel that houses the Apple Watch chassis. When an Apple Watch is placed inside the TinyPod, the click wheel on the case is able to be used to scroll through the Apple Watch interface. The feature works...