Hon Hai trims outlook after outbreak

PRODUCTION HALT: The iPhone maker cut its forecast sales growth to 1% to 3%, saying it would not be able to resume full production in China until late this month

Taipei Times
Date: Feb 06, 2020
By: Bloomberg

Hon Hai Precision Industry Co (鴻海精密) cut its revenue outlook for this year after deciding to

The logo of Hon Hai Precision Industry Co, also known as Foxconn, is pictured at its headquarters in New Taipei City on June 11 last year.
Photo: David Chang, EPA-EFE

impose strict quarantines at its main base for making iPhones, a measure to guard against the 2019 novel coronavirus outbreak that might hurt Apple Inc.

Hon Hai, which makes the vast majority of the world’s iPhones in Zhengzhou, China, officially resumes production on Monday next week after an extended Lunar New Year holiday.

However, workers returning from outside Henan Province — the site of its main factory — would be quarantined for 14 days, the company said in a statement, adding that any staff reporting to work who reside within the province would be isolated for seven days.

The lost production prompted Hon Hai to slash its revenue growth forecast for this year.

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.