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Foxconn says cautiously resuming China output, warns coronavirus will hit revenue – Source Reuters Tech News

FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company’s building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu

TAIPEI (Reuters) – Taiwan’s Foxconn said on Thursday it would “cautiously” resume production at its main factories in China as the major Apple Inc supplier warned revenue will be hit this year by the coronavirus epidemic.

Its warning comes just days after Apple rescinded its March quarter sales guidance because of slower-than-anticipated resumption of production in China and weak demand there, the world’s biggest smartphone market.

Foxconn, the world no. 1 contract manufacturer whose clients also include Huawei, said plants in countries such as Vietnam, India and Mexico continued to be operating at full capacity with expansion plans under way as it seeks to minimize the impact of the virus.

It said the outbreak will have a negative impact on its full-year revenue, without disclosing details.


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Source Reuters Tech News

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