Would you like to own the iPhone 14 or iPhone 14 Pro Max? But you may have to wait a long time to get your hands on this new product. This could be due to a significant reduction in the production capacity of iPhone assembly factories in China, Apple said.This information was give in a report of Business Standard.
The district where iPhone factory Foxconn is located in China is under a government-imposed lockdown. It is the world’s largest factory in the production of electronic products. The lockdown was imposed for seven days from November 2.
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In a statement, Apple said, as it has done throughout the Covid-19 pandemic, it is prioritizing the health and safety of workers in its supply chain. They continue to see strong demand for the iPhone 14 and iPhone 14 Pro Max models.
But the company now expects to see fewer iPhone 14 and iPhone 14 Pro Max shipments than previously expected. The company said that customers will have to wait for a relatively long time to get their new products.
This announcement will likely disappoint investors. They were hoping that China would lift the corona restrictions in the near future. China’s stock market jumped on Friday (November 4) on rumors of the lifting of the lockdown.
The world’s second-largest economy is struggling to deal with lingering challenges posed by Covid restrictions, a slump in housing trade and the risk of a global recession, according to recent figures.
Foxconn is the world largest contract manufacturer of electrical product. Known as ‘Hone High Precision Industries the factory supplies 70 percent of global iPhone shipments.
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