Nikkei: China Blocks Foxconn Plan to Restart Plants Due to Coronavirus

Whoa, France. Take it easy. Wow. You're out of control. Fining Apple 55 minutes of revenue for secretly slowing down iPhones? Maniaques!

(MENAFN - Apple's (NASDAQ:AAPL) biggest iPhone maker Foxconn has resumed production at a key plant in China after being forced to shut it following the coronavirus outbreak.

While the restart of production is positive, only 10% of the factory's workforce has managed to return, according to Foxconn. This includes ensuring that all factory workers wear masks, go through temperature checks, and more.

Taiwan's Foxconn was not allowed to resume production at its factory in Shenzhen, south China, which was closed due to the outbreak of the corona virus, on Monday.

As far as Foxconn is concerned, the held up the resumption of work is likely to negatively impact shipments to consumers such as Apple, while having a major impact on the global technology supply chain, a source with access to the matter told Reuters.

January Jobs Report: U.S. Economy Starts 2020 With 225,000 New Jobs
The gain in jobs for the month came as the number of full-time jobs rose by 35,700, while part-time employment fell by 1,200. Initial jobless claims declined by 15,000 to 202,000 in the week ending February 1, the U.S.

One market research firm, TrendForce, said it was slashing its forecast on iPhone production in the first quarter by 10 percent, or 4.5 million units. The company's Shenzhen plant remains closed and it is not yet known when full operations would resume at either location.

Its Shenzhen plant, which is responsible for developing Apple's new iPhone models, which are expected to be launched in the second half of the year, is set to resume about 30 to 50 percent of production in a week's time given the circumstances, TF International Securities Group Co (天風國際證券) analyst Kuo Ming-chi (郭明錤) said in a report on Sunday. We need to improve our anti-virus measures for further screening, "said the person who refused to be identified because they were not authorized to speak publicly on the subject (...)". After reviewing the factories, Chinese health authorities have informed Foxconn that there are high risks of coronavirus infection and therefore are not suitable to restart work.

Foxconn, which makes devices for global electronics firms, has also built production lines in the southern province of Guangdong to make face masks for its hundreds of thousands of employees and is aiming to churn out 2 million masks a day by late February, the internal memos showed. Foxconn has fallen more than 11 percent since the market reopened after the holiday break.

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