Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Politics
Anusuya Lahiri

Apple's Key Supplier Resumes Partial Operation At Shenzhen Campuses

  • Apple Inc (NASDAQ:AAPL) supplier Hon Hai Precision Industry Co Ltd (OTC: HNHPF), also known as Foxconn, resumed partial operations and production at its two Shenzhen campuses, one of which makes iPhones, after assuming Covid measures, Bloomberg reports.
  • Foxconn had suspended operations after Shenzhen imposed a city-wide lockdown, including its Guanlan factory.
  • Foxconn has resumed some production at its China headquarters and the Guanlan campus. After adopting a “closed-loop” system across its campuses, it won the approval to resume business.
  • The closed-loop “process, is only possible on campuses that include both employee housing and production facilities, adheres to strict industry guidelines and close-loop management policies issued by the Shenzhen Government,” Foxconn said.
  • Analysts saw a minimal impact on Apple due to the lockdowns.
  • Price Action: AAPL shares traded higher by 1.55% at $157.49 premarket on the last check Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.