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Foxconn sees limited impact from huge China floods on iPhone hub

Chairman of key Apple supplier says regional manufacturing is necessary

Foxconn Chairman Young Liu is optimistic over the company's prospects during the second half of this year. (Photo courtesy of Foxconn)

NEW TAIPEI, Taiwan -- Key Apple supplier Foxconn on Friday said it expects limited impact from massive flooding in the Chinese city of Zhengzhou, the world's biggest iPhone production base, alleviating concerns over possible effects on assembly of the latest version of the smartphone, which is set to begin in weeks.

"We now don't see much impact from the floods in Zhengzhou," Foxconn Chairman Young Liu told the company's annual shareholders meeting in New Taipei City, near Taipei. The ongoing, unprecedented chip and component shortage plaguing the industry is also unlikely to cause major problems for Foxconn's business, Young said.

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