where Covid restrictions hit iPhone maker Foxconn

It says the drop is a result of its plant in Zhengzhou, China being affected by coronavirus restrictions Compared to October its revenue was 29% down, despite making a record 5.9 trillion New Taiwan Dollars (£160bn) from January to November that is an increase of 13.5% compared to the same period in 2021 the electronics manufacturer, also makes game consoles such as the PlayStation 5, has cited "strong sales" and "better components supply" among the reasons for its growth, and blamed the drop in November on coronavirus restrictions the overall epidemic situation has been brought under control, with November being the most affected period," said a statement from the company, whose headquarters are in Taiwan We are gradually moving toward the direction of restoring production capacity to normal Footage circulated widely online in November showed angry protests at the factory, amid mass protests in China against the country's zero-Covid policy Since then, China has signalled a shift in its Covid stance and moved to ease some virus restrictions, despite high daily case numbers Dozens of districts in Guangzhou and Shanghai were released from lockdown measures at the beginning of December The country's vice-premier also announced that the country was facing a "new situation Employees who successfully refer a friend or family member to work at its plant in Zhengzhou, China will receive a 1,000 yuan award It comes after footage circulated widely online last week showed angry protests at the factory Apple has warned that shipments of its new iPhone 14 would be delayed due to Covid restrictions Foxconn employees who refer a new recruit will be paid 500 yuan if the person stays working for the company for 15 days. They will get another 500 yuan if the recruit remains in the role for a month, a post seen by the BBC on the popular messaging app WeChat said Last month, Foxconn for a "technical error" in its payment system after protests at the factory in the city of Zhengzhou over Covid restrictions and claims of overdue pay The announcement came after videos posted on social media showed hundreds of workers clashing with security staff At the end of October, video shared online showed people jumping a fence outside the Foxconn after a Covid outbreak forced staff to lockdown at the facility The company then recruited new workers with the promise of generous bonuses However, one worker told the BBC that these contracts were changed so they "could not get the subsidy promised," adding that they were quarantined without food Some analysts have warned that the protests and Covid lockdowns have had a major impact on production at what is known as "iPhone City" ahead of the holiday shopping season "What started out a month ago as 3% iPhone 14 Pro shortages grew to 5% last week and now are roughly 10%+ of overall units with the potential to increase over the coming month depending on any production improvements from Foxconn," Dan Ives from investment firm Wedbush Securities said Although Apple has not put a figure on  the impact of the issues at the Zhengzhou plant it has warned of delays to deliveries of the iPhone 14 Pro and iPhone 14 Pro Max China's National Health Commission reported 36,061 new Covid-19 infections for Wednesday, that's down from 37,828 new cases for Tuesday The country's zero-Covid policy and a slowdown of the global economy are taking a toll on China's economic growth Factory activity in the world economy shrank more than expected in November. The Purchasing Managers' Index (PMI) fell to 48, down from 49.2 in October, according to the latest official figures published on Wednesday