Sharp’s parent to lose its biggest customer?
Foxconn, aka Hon Hai Precision of Taiwan, is parent of Sharp
- Foxconn’s largest customer, Apple Inc., is reportedly looking to move a substantial amount of its business from Foxconn to Luxshare Precision of Taiwan
- This would mean Foxconn would lose its monopoly on assembling Apple iPhone Pro models
- is apparently the result of the manufacturing disruption caused by Zero Covid policies enforced by Chinese government on Foxconn’s huge plant in Zhengzhou, China
- Foxconn’s shared declined 22% after the news broke