Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Supply fears as China lockdown hits world’s largest iPhone factory

by November 2, 2022
November 2, 2022
Supply fears as China lockdown hits world’s largest iPhone factory

Chinese authorities have announced a seven-day coronavirus lockdown in the area around the world’s largest iPhone factory, stoking concern that production will be severely curtailed ahead of the Christmas period.

Foxconn’s plant in Zhengzhou, which employs about 200,000 people, produces the majority of Apple’s new phones, including the new iPhone 14.

It has been rocked by discontent over stringent measures to curb the spread of Covid-19, with workers fleeing the site over the weekend after complaining about their treatment and provisions via social media. Nearby cities have drawn up plans to isolate migrant workers fleeing to their home towns, to prevent the spread of the virus.

The Zhengzhou Airport Economy Zone in central China said that from midday on Wednesday, it was placing the 415 sq km industrial park that hosts the plant under China’s lowest “static management” tier of lockdown until midday on 9 November.

An official statement said residents in the area, about 16 miles south-east of Zhengzhou, were barred from leaving home and must be PCR tested once a day. Public transport services are suspended and only approved vehicles are allowed on the roads. Other measures include the closure of offices, non-essential shops and services.

The statement said any violations of the rules would be “severely dealt with” by the police and urged people to cooperate to “score victory in this district’s struggle against the epidemic”.

China’s president, Xi Jinping, who recently secured an unprecedented third term as the Communist party chief at the 20th party congress, has insisted on a “zero Covid” policy and repeatedly called for “struggles” against political and other challenges.

An almost month-long lockdown in Zhengzhou had prompted complaints of arduous conditions, sometimes violent enforcement, inadequate medical care, and worsening mental health.

It has been the subject of national focus, particularly after hundreds of workers from Foxconn fled over fences from the factory’s “closed loop” quarantine system last week. On Tuesday, probably in response to criticisms, authorities announced the easing of restrictions but residents said controls remained tight and Foxconn said it had quadrupled bonuses on offer at the plant as it sought to retain staff.

Zhengzhou, the capital of the central province of Henan, has a population of about 12 million people. Zhengzhou health authorities reported 64 new cases and 294 asymptomatic new cases as of Tuesday.

On the social media platform Weibo, some questioned why restrictions remained in place, just one day after the supposed relaxation.

“Is everyone back to normal now? Are we back to work? Wasn’t the lockdown lifted yesterday? Is Foxconn under ‘static management’ also?” said one post. “Under what conditions will the lockdown end? These endless ‘static managements’, endless PCR tests … We don’t need to pay off our car loans and mortgages?” said another.

Before Wednesday’s announcement, Reuters reported, quoting an unnamed source, that the production of Apple’s iPhones at Zhengzhou could slump by as much as 30% next month due to tightening curbs but that Foxconn was trying to boost production at another factory in Shenzhen in South China to make up for the shortfall.

Read more:
Supply fears as China lockdown hits world’s largest iPhone factory

0
FacebookTwitterGoogle +Pinterest
previous post
Iceland boss urges Sunak to extend free school meals as ‘critical priority’
next post
Aston Martin shares slide 15% as it struggles to source car parts

You may also like

EU plans to loosen state aid rules to...

January 31, 2023

Amazon facing £900m payout to shoppers over online...

October 20, 2022

What is a good age to start piano...

November 14, 2022

eBay Waives Fees for Second-Hand Clothing Sales to...

April 9, 2024

Key Regulatory Challenges for the UK iGaming Industry...

January 3, 2025

Reserved signs set to go up across high...

February 13, 2023

Capital Gains Tax concerns loom over UK tech...

October 18, 2024

Aston Martin off track on sales targets but...

February 28, 2024

House prices climb 11% despite cost of living...

August 2, 2022

Bosch’s €2 billion gamble: Investing in employee retraining...

April 22, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • EU defense chief warns of ‘most dangerous moment’ – coordinated Russian-Chinese aggression by 2027

      July 22, 2025
    • Deputy AG seeks Ghislaine Maxwell meeting in Epstein investigation

      July 22, 2025
    • Trump pulls US out of UN agency over its backing of ‘woke’ social causes

      July 22, 2025
    • The Nation “Don’t Need No Doctor”: Rethinking the Surgeon General’s Office

      July 22, 2025
    • Motor racing dominates automotive sponsorship spend across the Americas in 2025, according to new data

      July 22, 2025
    • London Stock Exchange considers 24-hour trading to boost global competitiveness

      July 22, 2025

    Categories

    • Business (8,546)
    • Investing (2,139)
    • Politics (16,150)
    • Stocks (3,222)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved