US-based tech giant Apple’s supplier Foxconn’s flagship iPhone plant in China recently saw factory workers clash with security personnel. The protest at the world’s biggest Apple iPhone factory emerged amid strict COVID-19 restrictions that have fueled discontent among workers.
Furthermore, these strict COVID-19 restrictions also disrupted production of new Apple iPhones ahead of Christmas and January’s Lunar New Year holiday, as many workers were either put into isolation or fled the plant.
Victoria Schaller, head of investments at Interactive Investor, said “worker unrest at Foxconn’s plant in China could weigh on Apple’s November iPhone shipments” as concerns grow over Apple’s ability to deliver products for the busy holiday period. Is.
As per reports, Foxconn is set to see a reduction in November shipments as thousands of employees have left their jobs.
However, if one tries to buy online, the waiting time on Apple’s website for the new iPhone 14 Pro is now up to 40 days, which is expected to increase in the coming weeks as more consumers look to buy as gifts. Let’s try to find iPhone pros for. ,
Schaller said, “Apple is still viewed as one of the more resilient stocks in the tech sector … However, given the macroeconomic uncertainty, Apple continues to provide authoritative guidance.”
According to reports, Foxconn’s factory in China’s Zhengzhou is the only one that makes premium iPhone models, including the iPhone 14 Pro, and is unlikely to resume full production until later this month.
In the West, many shoppers looking for Apple’s latest high-end phone returned empty-handed from their stores this Black Friday as the smartphone giant grappled with production snafus in China.
“iPhone shortages are accelerating and were front and center on Black Friday at many retailers, Apple Stores and online channels this morning,” said Dan Ives, an analyst at investment firm Wedbush.
“We believe that many Apple Stores now have iPhone 14 Pro shortages at 25%-30% below normal December headings, depending on model or color or storage,” Ives said, referring to Apple’s headquarters. Not a good one. Sign in for the holiday season for Cupertino.
(with inputs from Reuters)