Apple facing shortfall of 6 million iPhone Pros amid China protests - report
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Apple (NASDAQ:AAPL) could see iPhone Pro production fall short by as many as 6M units due to unrest at its major Chinese manufacturing hub of Zhengzhou, Bloomberg reported Monday.
AAPL fell 1.4% in early premarket trading.
The lost production estimate could still change if lockdowns continue and also depends on how quickly Foxconn can get workers back to production lines after protests, Bloomberg reported, citing people familiar with assembly operations.
Protests against COVID controls in China gathered steam over the weekend following a deadly fire and are hitting stock and oil markets.
Last week, workers at Foxconn's - also known as Hon Hai Precision (OTCPK:HNHPF) - plant in Zhengzhou, protested after they complained they had not yet received the bonuses that were promised to them to stay working on iPhone production as the manufacturer works under a closed-loop system in an effort to limit the spread of COVID-19. Those workers had replaced employees that had fled the campus after food shortages in October.
Reuters reported last week that Apple (AAPL) iPhone production at the plant may fall 30% for November.