Apple supplier Foxconn announced that it will adjust its production capacity in China and elsewhere to mitigate the impact of Covid-linked shutdowns on its December quarter revenue outlook.
"We will definitely work all out to adjust our production capacity and output, so there is no impact on demand for (the Christmas and Lunar New Year) holidays," Foxconn chairman Liu Young-way mentioned to investors on a conference call Thursday.
Last week, Apple said that Foxconn's 200,000-person factory in Zhengzhou is "currently operating at significantly reduced capacity" due to COVID-19-related restrictions put in place last month by officials in Beijing, and cautioned that it could hurt shipments of its higher-end iPhones. Apple CEO Tim Cook indicated last month that while iPhone demand has remained strong, supply constraints for both the 14 Pro and the 14 Pro Max persisted heading into the holiday season, even before the additional restrictions at Zhengzhou.