Foxconn has announced that it expects production to return to normal by the end of March. However, the impact the coronavirus outbreak has made on the company is still unclear.
The Apple supplier had taken a set back during the initial coronavirus outbreak. In early February, Foxconn faced temporary closures of its major factory locations, including the Shenzhen factory, and employees were told not to return to work.
Production resumed over time but in a limited capacity. More than half of the company’s workforce has returned to work. Foxconn now appears confident enough to state that regular production will return by the end of March, according to Reuters.
During an online investor conference, Foxconn Chairman Liu Young-Way said: “Prevention of outbreak, resumption of work and production are our top priority.”
At first, Foxconn was bullish and refrained from stating that coronavirus would have a major impact on production. However, due to the extended Lunar New Year break and last effects made by coronavirus, the reality is that there has been a toll.
Apple has reported a slower-than-usual lead into the spring season. In addition, Hyundai Motors, another company leveraging Foxconn’s supply chains, has also been dealt a blow. The company recently reported the lowest sales figures in the past decade, attributing it to a shortage of parts.