Foxconn's Chinese factories to remain closed for at least another week due to Coronavirus

The coronavirus outbreak in China's Hubei province is forcing Foxconn to keep its factories shut until February 10 according to new reports. This could potentially have heavy consequences for the contract manufacturer's biggest client Apple and its upcoming iPhone lineup. Apple is already expecting a 10% drop in iPhone shipments and has closed off its stores and offices in China until February 9. Last week, Foxconn issued an official statement in which it believes iPhone shipments won't be slowed down and has taken up measures to continue meeting its manufacturing obligations. These...