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Apple gets good news: Foxconn’s Chinese factories are running again
Apple cuts sales targets over coronavirus; Pier One files for bankruptcy
FOX Business Briefs: Apple is blaming the coronavirus outbreak for cutting its sales in the second quarter; Pier One Imports files for Chapter 11 bankruptcy protection.
Apple iPhone assembler Foxconn Technology has resumed production at its mainland China factories.
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Production has “exceeded expectations” since it resumed after the coronavirus outbreak prompted an extended halt of work at Foxconn, the world’s largest electronics manufacturer, founder Terry Gou Tai-ming told Reuters.
In February, Foxconn reported an 18.1 percent drop in revenue compared to a year earlier. The company blamed the outbreak and said it was its worst hit since March of 2013.