Apple’s weak iPhone sales drive first profit miss since 2016

Apple sales fell 5% to $117.2 billion and were down in every part of the world in the quarter. Sales from each product category dropped, except for gains in services and iPads. Earnings per share were $1.88, Apple’s first miss of Wall Street’s profits expectations since 2016. Analysts had expected sales of $121.1 billion and … Read more

Shanghai hospital warns of ‘tragic battle’ as COVID spreads

Shanghai hospital estimates 5.43 mln positives in city Several cities distributing free anti-fever drugs No COVID deaths for 2nd consecutive day, China says First mRNA vaccines to arrive in China for German expats SHANGHAI/BEIJING, Dec 22 (Reuters) – A Shanghai hospital has told its staff to prepare for a “tragic battle” with COVID-19 as it … Read more

China reportedly delays key economic meeting amid signs of emerging infections

Beijing drops key tools of ‘zero-COVID’ regime Changes follow historic protests last month Opening up sparks fears of infection spread SHANGHAI/HONG KONG, Dec 13 (Reuters) – Chinese leaders have reportedly delayed a key economic policy meeting amid growing signs that COVID-19 infections are surging nearly a week after Beijing jettisoned some of the world’s toughest … Read more

Analysis: Apple supply chain data shows receding exposure to China as risks mount

SHANGHAI, Nov 30 (Reuters) – Apple Inc’s (AAPL.O) wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began, company supply chain data shows. With the world’s biggest iPhone factory, operated in central China by Foxconn (2317.TW), battling production shortfalls and labor unrest spurred largely … Read more

Dating apps and Telegram: How China protesters are defying authorities

BEIJING, Nov 29 (Reuters) – Opponents of China’s anti-COVID measures are resorting to dating apps and social media platforms blocked on the mainland to evade censors, spread the word about their defiance and strategy, in a high-tech game of cat and mouse with police. Videos, images and accounts of the opposition to China’s tough COVID-19 … Read more

China widens COVID curbs, Apple factory unrest adds to economy worries

COVID restrictions increase as case rise Unrest at iPhone factory adds to concerns about economy, underscores frustrations Analysts warn of potential for wider lockdowns BEIJING, Nov 23 (Reuters) – Chinese cities imposed more curbs on Wednesday to rein in rising coronavirus cases, adding to investor worries about the economy as fresh unrest at the world’s … Read more

Apple Stock Slides On Report of Extended iPhone Wait Times Amid China Covid Restrictions | Arena

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Workers Recount Covid Horror At World’s Largest iPhone Factory

China is the last major economy committed to a zero-Covid strategy. Beijing: Zhang Yao recalls the moment he realized something had gone deeply wrong at the Chinese mega-factory where he and hundreds of thousands of other workers assembled iPhones and other high-end electronics. In early October, supervisors suddenly warned him that 3,000 colleagues had been … Read more

China locks down area around the world’s largest iPhone factory

China locks down area around Foxconn iPhone factory Reports of Covid outbreak at the facility spread on social media AFP, Beijing, Nov 02 2022, 12:37 is updated: Nov 02 2022, 12:37 ist Chinese authorities on Wednesday locked down the area surrounding the world’s largest iPhone factory after reports of an outbreak at the facility spread … Read more

China COVID curbs hit iPhone output, shut Shanghai Disney

Huge iPhone plant could see 30% output drop in Nov-source Shanghai Disney resort shuts, visitors kept inside for testing China’s October PMI unexpectedly weak China battling case flareups in numerous cities Gaming hub Macau reimposes COVID curbs BEIJING, Oct 31 (Reuters) – China’s COVID-19 curbs forced the closure of Disney’s Shanghai resort on Monday, while … Read more