Foxconn is informing investors that it plans to “reach full seasonal capacity by the end of March.”
Foxconn is one of the biggest electronic manufacturers, and the primary maker of Apple’s iPhone. The company has been dealing with restrictions the Chinese government has imposed on travel and business, leading to its factories in China to be shut down. Three weeks ago the company received permission to reopen its Zhengzhou factory, although it was only at 10% capacity initially.
According to the presentation (PDF) to investors, Foxconn is focused primarily on the safety of its employees, and it continues to comply with governments’ guidelines and requirements regarding the reopening of its factories.
“As of today, the production resumption has reached 50% of seasonal required
capacity,” reads the document. “Based on the current schedule, we shall be able to reach full seasonal capacity by the end of March.
“There are still plenty uncertainties which we can not quantify the potential impact on the full year. However, AI, semiconductor and 5G are still critical catalysts for the long-term. Therefore, we believe some demands will be pushed out to later of this year.”
The coronavirus has already led to Apple, Microsoft and many other companies issuing updated guidance, as the virus continues to spread and impact a variety of industries.