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Apple iPhone output may drop 30% as Covid bans strike big China facility.

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  • On Monday, a source claimed China’s COVID-19 restrictions might cut iPhone production by 30% at one of the world’s largest plants next month.
  • To compensate, Foxconn is increasing production at another Shenzhen facility.
  • Over the weekend, some workers left its main Zhengzhou factory in central China, which employs nearly 200,000 people, in protest of COVID-19 prevention efforts.
  • Foxconn stated Sunday that it was resolving the issue and will coordinate backup production with other sites. On Monday, its stock fell 1.4% as the market rose 1.3%.

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