Foxconn: Resumption of production in China at the end of March cannot predict the impact of the epidemic on performance

Netease Technology News March 3, according to foreign media reports, Apple supplier Foxconn announced that it will resume normal production in China by the end of March. The company also said that more than half of its seasonal employees in China have returned to work in the wake of the novel coronavirus outbreak.

Foxconn said its factories have now returned to 50% of their seasonal capacity, but that percentage should increase in the coming weeks. “As of today, the resumption of production has reached 50% of seasonal capacity. Based on the current schedule, we will be able to restore full seasonal capacity by the end of March,” the company said in a stock exchange filing.

Foxconn, however, said it could not predict the actual impact of the outbreak on its full-year results, and its chairman Liu Yangwei said at an investor conference on Tuesday: “Preventing the outbreak and resuming production and work are our top priorities.”

Liu Yangwei also said that there is no major problem with the supply chain, and Foxconn is helping suppliers get back to work.

In an interview in February, Liu Yangwei said Foxconn expects sales to grow 1% to 3% this year. That’s down from the 3% to 5% forecast on Jan. 22 before the outbreak spread globally, and it also lags the average analyst forecast at the time.

Foxconn’s warning could overshadow the launch of Apple’s new phone. Supply chain experts say Foxconn is often responsible for making the new iPhones, but given travel restrictions, the time to market could be significantly affected.

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