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
Date: Feb 06, 2020
Hon Hai Precision Industry Co (鴻海精密) cut its revenue outlook for this year after deciding toimpose 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.