Apple’s iPhone assembler says supply chain outlook better than feared, despite lockdowns

Apple’s iPhone assembler says supply chain outlook better than feared, despite lockdowns


Customers walk past a digital display of the new green color Apple iPhone 13 pro inside the Apple Store on 5th Avenue in Manhattan, in New York, March 18, 2022.

Mike Segar | Reuters

Foxconn, a major supplier of Apple’s iPhones, said the impact of China’s Covid lockdowns on its operations wasn’t as bad as expected, Nikkei Asia reported Tuesday.

In late March, China ordered a series of lockdowns in some major cities after it saw a surge in coronavirus cases. Not long after, Foxconn said it would pause its operations in Shenzhen, a Chinese manufacturing hub where the company produces some iPhones, iPads and Macs.

Apple spooked investors last month when it warned that third-quarter sales could be hit by as much as $8 billion as a result of several challenges, including supply-chain constraints.

“Covid is difficult to predict,” Apple CEO Tim Cook said on a conference call with analysts after the company reported its second-quarter results.

Foxconn Chairman Liu Young-way said the company has seen a more limited impact from the lockdowns than it anticipated, and it raised its outlook for the current quarter and the full year as a result, Nikkei said. Key manufacturing facilities have been operating at normal levels and product development is ongoing, the company said, according to Nikkei.

The comments don’t necessarily mean Apple is totally in the clear from supply-chain constraints caused by Covid-19 lockdowns, or chip shortages, but it suggests the situation is at least improving for iPhone manufacturing. Apple’s iPhone business generated $50.57 billion in revenue during Q2, a bulk of its $97.28 billion total revenue.

“The overall lockdown impact on Foxconn is rather limited,” Young-way said, according to the report. “You can tell from our revenues in April, and May’s performance is also better than we estimated.”

Read more from Nikkei Asia.

WATCH: Apple says supply chain issues will continue



Source

Robinhood is up 160% this year, but several obstacles are ahead
Technology

Robinhood is up 160% this year, but several obstacles are ahead

Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks. Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower. The reversal came after a Bloomberg report that JPMorgan plans […]

Read More
Tron’s Justin Sun says he’s buying another 0 million of Trump’s memecoin
Technology

Tron’s Justin Sun says he’s buying another $100 million of Trump’s memecoin

Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, May 8, 2020. Calvin Sit | Bloomberg | Getty Images Crypto billionaire Justin Sun is buying another $100 million worth of $TRUMP, doubling his total known stake of digital coins tied to President Donald Trump. Sun, who founded the TRON blockchain […]

Read More
TikTok loses bid to dismiss lawsuit alleging its ‘addictive design’ exploits kids
Technology

TikTok loses bid to dismiss lawsuit alleging its ‘addictive design’ exploits kids

FILE PHOTO: TikTok app logo is seen in this illustration taken, August 22, 2022.  Dado Ruvic | Reuters A judge this week rejected TikTok’s attempt to dismiss a lawsuit by the state of New Hampshire accusing it of using manipulative design features aimed at children and teens. “The Court’s decision is an important step toward […]

Read More