STORY: The world’s biggest maker of Apple’s iPhone says it sees disappointing profits ahead...
...as it grapples with a Chinese health crisis clampdown at one of its major factories.
Foxconn reported a 5% jump in the year-to-date...
The Taiwanese company says it expects “flattish” profit in Q4 - without giving a numerical figure.
The plant in Zhengzhou getting hit by health crisis curbs is the world’s largest iPhone plant and employs 200,000 people.
Apple has said it expects delays and lower shipments of its top-end iPhone 14s than previously anticipated after a production cut there.
It said customers that reserved the new devices could expect longer wait times to get their hands on the latest model.
Reuters reported last month that Foxconn's production of Apple's iPhones at the factory could slump by as much as 30% in November due to the tight curbs.
That’s bad news for the bottom line ahead the busiest time of the year for Taiwan’s tech companies-
-as they race to supply cellphones, tablets and other electronics for the busy holiday season in Western markets.