BEIJING — Foxconn Technology Group has invested $500 million in its Indian subsidiary, as the world's largest Apple contractor makes moves to diversify its supply chain after China’s stringent pandemic controls disrupted production at its top iPhone plant in Zhengzhou.

BANNOCKBURN, IL — Eighty percent of electronics manufacturers are experiencing rising material costs, while 77% indicate that labor costs are on the rise, according to the IPC's November Sentiment of the Global Electronics Manufacturing Supply Chain report. At the same time, ease of recruitment, profit margins, and inventory from suppliers are presently declining.

BENGALURU — Foxconn's founder-director Terry Gou warned China that the government's zero-COVID stance would threaten the position China's economy in the global supply chain, which played a major role in convincing the country's leadership to reopen the economy and move away from its zero-tolerance COVID-19 policy, the Wall Street Journal reported.

BILLINGSTAD, NORWAY — With strong demand and easing supply restraints, Kitron has raised its full-year 2022 revenue outlook to NOK 6.45-6.55 billion (US $645-655 million). Operating profit is expected to be between NOK 440-470 million ($44-47 million).