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iPhone supplier Foxconn to get production back to normal after virus

Apple’s main iPhone supplier in Asia expects to reach its “full seasonal capacity” by the end of March. And that’s potentially a positive development not only for Taiwan’s Hon Hai Precision Industry Co., or Foxconn as it is better known, but for Apple, which last month lowered its guidance for the current financial quarter in the wake of the disruptive impact of the coronavirus outbreak in China and the hit to the company’s supply chain.

“Prevention of outbreak, resumption of work and production are our top priority,” Hon Hai chairman Liu Young-Way told an online investor conference on Tuesday, according to Reuters.

Foxconn reported in a stock exchange filing that as of today, seasonal production is already back up to 50%.

But the company cautioned in the filing that there’s still plenty uncertainty which could impact full-year results and affect such critical long-term catalysts as artificial intelligence, semiconductors and 5G.

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