The Foxconn riots came amid protests in China against China’s corona zero policy. Covid-19 cases are on the rise in mainland China, leading to home lockdowns and business closures in many major cities. Anti-lockdown protests erupted across the country, including at Foxconn’s iPhone assembly plant in Zhengzhou.
Foxconn employees are protesting the company’s handling of food shortages, pay issues and the Covid-19 outbreak. On Wednesday, workers smashed cameras and windows during the protests.
Foxconn said it will continue to communicate with employees and the government to prevent similar violent incidents. He said he will continue to communicate with employees about their pay concerns and will “do our best to proactively address employee concerns and reasonable claims.”
Analyst concerns about recent production disruptions ahead of the holiday season have led to increased demand for goods and services.
Apple has released a new forecast that the iPhone 14 Pro and Pro Max delivery date will be significantly delayed. Customers who ordered the phone last week can expect to wait 37 days for delivery, the longest wait since the model’s launch. The regular iPhone 14 is still in stock.
On Monday, Wedbush analyst Dan Ives predicted that there would be a significant shortage of iPhones in China due to the “zero head-scratching Covid policy.” ..
Apple is facing a significant shortage of iPhones, and if the protests in China continue, up to 5% of units in the quarter could potentially drop by 10%.
JPMorgan released a note on Sunday expressing concern about the slowdown in China, but still appearing to be on the mend. “Continuing challenges related to the slow return to normal production levels at the Zhengzhou plant may limit the pace of balancing supply and demand in the coming months,” JPMorgan wrote. ..
