But of course every silver lining has a cloud around it. Other products didn't do so well, recording what was described as a"slight decline" due to high sales the previous month.The company's visibility for the fourth quarter was originally"cautiously optimistic", but due to the pandemic affecting some of our operations in Zhengzhou, the company will"revise down" the outlook for the fourth quarter.
Zhengzhou is home to a colossal Foxconn plant focussed on making iPhones for Apple … and Apple yesterdaythat production will miss targets due to strict lockdowns aimed at controlling a COVID-19 outbreak. "Foxconn is now working with the [Henan provincial] government in concerted effort to stamp out the pandemic and resume production to its full capacity as quickly as possible," the revenue statement reads.
Foxconn and Apple will both be hoping those efforts succeed, because both have made disclosures that the shutdowns in Zhengzhou could hit their bottom lines – hard. ®