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Affected by pneumonia, Hon Hai cuts revenue growth forecast by two points

According to the cnBeta website, Hon Hai Precision Group, the parent company of Foxconn, Apple's main supplier, has lowered its revenue growth forecast for 2020 due to the impact of the coronavirus pneumonia epidemic.

Although Hon Hai recently announced that factories in mainland China will resume work on February 10, the impact of the epidemic on iPhone production will be small, but it is clear that the continuation of the epidemic has affected the company's operating performance.

According to reports, Hon Hai Chairman Liu Yangwei said on Wednesday that considering the current market environment, sales are expected to increase by 1-3% in 2020, lower than its 3-5% forecast on January 22, and far below Analysts had previously forecast an average of 5.4%.

It is reported that when Apple released a new quarter revenue forecast in January, it expanded the range to reflect the uncertainty brought about by the Chinese epidemic. Currently, Foxconn is expected to resume work on February 10. Apple's other suppliers Quanta Computer, Inventec, and LG Display have also said that they will resume production in mainland China next week.