Foxconn

The new factory will reportedly manufacture products including iPhone parts and parts for Foxconn's electric vehicle business.

Apple has been forced to address the depth of shortfall it could face in iPhone production amid a protest at a Foxconn iPhone factory in China.

The protests reflect ongoing tension at the factory in Zhengzhou, China which has also been facing new COVID-19 restrictions.

New iPhone 14 production was temporarily reduced at a factory in Zhengzhou, China because of recent COVID-19 restrictions put in place.

The Apple iPhone assembler has its own line of vehicles, but its main priority is to provide manufacturing services to other companies.

The forecast is better than expected, even with complications like the pausing of operations in the manufacturing hub of Shenzhen, China.