The Latest Breaking News from Foxconn

The company that assembles Apple Inc.’s iPhones says it will ease COVID-19 restrictions at its largest factory in China that led thousands of workers to quit

China has slashed the number of locations deemed at high risk of wider COVID outbreaks, re-opening locked down areas including one hosting a key factory of an Apple supplier. The number of high-risk areas tumbled to around 4,500 on Monday, official data showed, down 85% from more than 30,000 on…

China has slashed the number of locations deemed at high risk of wider COVID outbreaks, re-opening locked down areas including one hosting a key factory of an Apple supplier.

Apple supplier Foxconn's founder Terry Gou had warned China that the government's zero-COVID stance would threaten the position of the world's second-largest economy in the global supply chain, the Wall Street Journal reported.

Analysts are warning of a "bumpy," "zigzagging" recovery since China's COVID cases and deaths will likely spike.

Shenzhen Component Index closed up 0.17%

By 2025, 50% of iPhone production could be in these two countries instead, according to Wedbush tech analyst Dan Ives.

‘Teacher Li’ has amassed more than 800,000 followers with his posts highlighting COVID-related unrest in China.

In recent weeks, Apple Inc. has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world's most valuable company, say people involved in the discussions.

The company says it has already built the first customer vehicles out of an initial batch of 500 units and they are now ready for delivery.

The company isn't ruling out building the EVs itself, either.