Just like in March 2020, when the world started taking the unfolding COVID-19 epidemic seriously, a Foxconn shutdown is the omen of doom.
Foxconn had to shut down its operations in Shenzen, China, closing down factories responsible for building iPhones, because of a new lockdown in China related to COVID-19.
On Sunday, March 13, more than 3,000 cases of COVID-19 were reported, prompting local authorities to start a new lockdown expected to last until March 2020.
To comply with the lockdown, Foxconn shut down its operation at two of its Shenzen campuses and moved some operations to other sites where COVID-19 cases didn’t warrant such measures.
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The production halt didn’t have a significant impact on Foxconn yet, with Hon Hai, the mother company, registering just a 1% drop in share value on Monday.
However, the disruption might have an impact on Apple’s operations, especially iPhone shipments.
With the iPhone SE 3 on the way, we could see delays in shipping.
Other companies impacted by the new lockdown in China are Tencent, Huawei and DJI.
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