Market Chatter: Apple's iPhone Output in India Slumps on Surging COVID-19 Cases
06:52 AM EDT, 05/11/2021 (MT Newswires) -- Apple's (AAPL) iPhone production at a Foxconn manufacturing facility in Tamil Nadu, India has slumped by more than 50% amid a high COVID-19 infection rate in the factory, Reuters reported on Tuesday, citing two unnamed people familiar with the situation.
More than 100 Foxconn workers in the state have tested positive for COVID-19, forcing the contract manufacturer to impose a no-entry ban at its Chennai factory until late May, a source told the news agency, adding that "only a small part of output is being kept" in the facility.
Foxconn declined to comment on production or specific staffing levels but told Reuters that a small number of its employees at one of its facilities in the country tested positive for COVID-19 and that they were receiving medical assistance and other support.
The iPhone maker, which counts India as its second largest market, did not immediately respond to a request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 124.38, Change: -2.47, Percent Change: -1.95