iPhone 14 COVID production hit will batter Foxconn’s earnings

The largest iPhone manufacturer, Foxconn, has revealed that China’s coronavirus lockdown measures have severely hit its earnings estimates and expected revenue growth.

A Foxconn facilityA Foxconn facility

The extent of the lockdown’s delays to iPhone 14 Pro production was enough for Apple to issue a rare statement about its impact. At the same time, Apple and Foxconn have been working to mitigate the issue by moving more iPhone production away from China.

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