China's Zhengzhou, home to world's largest iPhone factory, ends Covid lockdown

China's Zhengzhou, home to world's largest iPhone factory, ends Covid lockdown. Other cities do the same

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Key Facts

  • Zhengzhou is the site of “iPhone City,” a sprawling campus owned by Taiwanese contract manufacturer Foxconn that normally houses about 200,000 workers churning out products for Apple (AAPL), including the iPhone 14 Pro and 14 Pro Max.
  • “This is some good news in a dark storm for Cupertino,” Daniel Ives, managing director of equity research at Wedbush Securities, told CNN Business, referring to the California city where Apple is based.
  • The average capacity utilization rate of the Zhengzhou plant was only about 20% in November, he said, and was expected to improve to 30% to 40% in December.
  • Due to the high price of the iPhone 14 Pro series, Apple’s overall iPhone revenue in the current holiday quarter could be 20% to 30% lower than investors’ expectations, he added.

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