Taiwan’s Foxconn warns of negative revenue impact from virus outbreak

Technology

FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company’s building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu

TAIPEI (Reuters) – Taiwan’s Foxconn on Thursday said a coronavirus outbreak will lead to lower full-year revenue and the company will “cautiously” resume output at its main factories in China that were shut because of the outbreak.

Foxconn said in a statement to the Taipei stock exchange that its factories in countries including Vietnam, India and Mexico continued to be operating at full capacity and expansion plans were underway.

Foxconn, the world’s largest contract electronics maker and formally called Hon Hai Precision Industry Co Ltd, is a supplier to Apple Inc and others.

Reporting By Yimou Lee and Twinnie Siu

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