Foxconn’s Sales Plunge Amid Zhengzhou iPhone Factory Disruption

Hon Hai Precision Industry Co. reported that sales for November fell nearly 30% from October due to production shortfalls from disruptions at a key iPhone factory in the Chinese city of Zhengzhou.

The Taiwanese company, also known as Foxconn Technology Group, said the revenue decline was in line with its estimate. The Covid outbreak in Zhengzhou has been “brought under control,” and production will improve through the rest of the year, the company said.