Foxlink seeks to resume iPhone production

By: Rohit Yadav

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Updated on: 01-Mar-2023

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The facility produces iPhone charging cables and is located in the Chittoor district of Andhra Pradesh state. Reuters reported that the factory is unlikely to resume full operations for two months, causing supply chain concerns for the US tech giant.

On Monday, Foxlink experienced a massive fire that led to a part of the building collapsing. However, no casualties were reported. The company is investigating the cause of the fire and working hard to resume production. According to an earlier statement by Foxlink on Tuesday, the site had been blocked off by the fire department, and four production lines were known to be damaged.

Fortunately, the fire has not had a significant impact on the company's finances and business since the plant, equipment, and inventory are insured. Foxlink reassured investors that it will coordinate with customers and suppliers to discuss solutions for the affected production capacity before resuming work.

The company's stock was down more than two per cent in early morning trading on Wednesday, compared to a 0.5 per cent fall for the broader market. It remains to be seen how long it will take for Foxlink to recover fully from this incident and how it will affect the supply chain for Apple's products.