Apple's iPhone Development Schedule Delayed By China Lockdowns - Nikkei

Reuters2022-05-25

May 25 (Reuters) - Apple Inc has told its suppliers to speed up iPhone development after China's strict COVID-19 lockdowns hampered schedule for at least one of the new phones, Nikkei reported on Wednesday, citing multiple sources with knowledge of the matter.

Lockdowns due to China's zero-COVID policy led iPhone assembler Pegatron Corp to suspend operations at its Shanghai and Kunshan plants earlier this year.

Financial hub Shanghai remains largely paralysed by a city-wide lockdown, which is now in its seventh week, while Beijing has ramped up quarantine efforts.

Apple last month forecast bigger problems as COVID-19 lockdowns snarled production and demand in China, with the war in Ukraine adding to the iPhone maker's woes.

In the worst-case scenario, Apple expects the manufacturing schedule and initial production volumes of the new phones to be hurt, the Nikkei business daily reported.

Foxconn declined to comment on the matter, while Apple and Pegatron did not respond to Reuters' requests for comment.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • vincentheng8
    2022-05-25
    vincentheng8
    All in aapl to vr and icar!
  • GggSlimeR
    2022-05-25
    GggSlimeR
    Price will drop? Thanks & Do not like my comment 
  • hphoa
    2022-05-25
    hphoa
    Eat orange then... 
  • AhBart
    2022-05-25
    AhBart
    Perhaps it is a humble lesson for Apple being tooreliant on China for its supply chain, developmentand production. May be zero Covid is a very distant target, and may be before this zero target can be reach, China may be dealing with monkeypox outbreaks. Zero target could be a continuous never ending journey, not a destination. In the meantime, PCR testing is flourishing in China because at this moment of zero Covid pursuit, every person is required to be tested every 2 days 🤒🤒
  • Chris Tan
    2022-05-25
    Chris Tan
    🏃‍♂️🏃‍♂️🏃‍♂️
  • Bspn
    2022-05-25
    Bspn
    Ok
Leave a comment
18