Production at Foxconn beats expectations, slow market a worry

Foxconn founder Terry Gou has addressed media, saying that the reopening of Foxconn factories is going well and that production has exceeded expectations, although he didn't specify what those expectations were.

Gou revealed that supplies to Foxconn plants in Taiwan and China have returned to normal, but warned that the lowered consumer demand due to the ongoing Coronavirus outbreak will have an impact on Foxconn and its partners' bottom lines.

Foxconn revenue has dropped by more than $1.6B in February because of factory closures and the need to send workers home.

Foxconn is Apple's main manufacturer. The outbreak caused a significant delay to iPhone 9 manufacturing and made the company to indefinitely postpone the launch of the phone.

Still, it's good to hear that life in China is slowly getting back to normal and that includes production in its many smartphone factories.

Source