News Snapshot:
Apple supplier Foxconn suspends operations in Shenzhen amid COVID-19 lockdown Foxconn is suspending operations in Shenzhen, China, where it produces some iPhones for Apple Inc., following the implementation of a citywide COVID-19 lockdown. Foxconn, incorporated as Hon Hai Precision Industry Co. Ltd., is the world’s largest contract manufacturer of electronics. The company assembles most of the estimated 200 million-plus iPhones that Apple sells annually. Foxconn also makes hardware for many other major tech firms, including Apple rival Samsung Electronics Co. Ltd. as well as Microsoft Corp. and Google LLC. In Shenzhen, where Foxconn reportedly maintains two major production sites, all...
