Production has “exceeded expectations” since it resumed after the coronavirus outbreak prompted an extended halt of work at Foxconn, the world’s largest electronics manufacturer, founder Terry Gou Tai-ming told Reuters.
In February, Foxconn reported an 18.1 percent drop in revenue compared to a year earlier. The company blamed the outbreak and said it was its worst hit since March of 2013.
Since work has resumed, supply chains have been restored for Foxconn’s China and Vietnam factories, Reuters reported.
However, Foxconn could still face weak consumer demand due to the outbreak, according to the report. There were more than 124,000 cases confirmed worldwide as of Thursday, including more than 1,300 in the U.S.
“In the United States, what we are worried about is the market,” Gou told Reuters. “If production was resumed quickly but consumers stops pending … that would be key to the economic recovery.”
There are also “concerns” about Foxconn’s supply chain in Japan and South Korea, according to Gou. South Korea, in particular, is one of the hardest-hit countries in the outbreak, with nearly 8,000 cases confirmed there as of Thursday, according to the World Health Organization.