Foxconn, a major supplier of Apple, has resumed its normal operations in Shenzhen, China, after an uptick in Covid cases in the area caused it to pause the production.
It had partially resumed its operation by implementing a “closed loop” system with employees who live on the campus.
Though Foxconn produces some iPhones, iPads and Macs in Shenzhen, nearly half of iPhones are produced in a factory in Henan province, according to a Bank of America note last week. The analysts said at the time that the company could relocate production in the short term if the lockdown was not extensive.
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The tech giant sells 18% of smartphones globally and earns 87% of smartphone profits. Apple has $285.1 billion in its cash reserves. 81% of iOS users have installed the latest software version on their device.
