Top Apple Supplier Says It's Ahead of Schedule In Meeting Labor Targets

Foxconn, the leading assembler of Apple products, said that it has secured enough workers to meet seasonal demand at all major plants.
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Key Apple  (AAPL) - Get Report supplier Foxconn said on Sunday night that it's made progress in recovering from coronavirus-related labor shortages at large factories. 

The company said that recruitment targets for the seasonally heavy summer months have been met "ahead of schedule at the plants," Nikkei Asian Review first reported. 

The company is expected to hit peak production around late July and thereafter, at which time it will be assembling iPhones for a fall release. As of early March, Foxconn said its plants were operating at roughly half capacity. 

Foxconn also emphasized that it will institute strict measures to prevent further coronavirus infections at its plants. 

Coronavirus-related disruptions worldwide have upended typical supply and demand cycles for Apple's key products. 

Global smartphone shipments plummeted 38% in February as the outbreak triggered widespread travel restrictions and labor shortages in Chinese manufacturing centers. 

Meanwhile, the pandemic has also depressed demand for Apple devices and many other consumer products as more regions institute stay-at-home orders and business closures. 

Apple has re-opened retail stores in China, where reported new cases have diminished, but all retail stores outside of China are currently closed "until further notice."

Apple shares closed 2.12% lower on Monday to $224.37.

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