World’s biggest iPhone factory reports big sales plunge after Covid disruptions

Hon Hai Precision Industry Co. reported sales for November were down 11.4% from the prior year after some shipments were affected by a Covid outbreak in the Chinese city of Zhengzhou, where the company operates the world’s largest iPhone assembly complex.

The Covid outbreak led to government lockdowns, a worker exodus and violent protests at the manufacturing facility. Apple has said it expects deliveries to be delayed this year because of disruption, and analysts have offered a series of increasingly downbeat forecasts for the shortfall in shipments this year.of earlier expectations by 16 million units.

Foxconn offered reassurances that the situation has been “brought under control” and that its production will improve through the rest of the year.

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