Severe floods hurt Apple, Nissan supply chains

The devastating floods and rainfall in Zhengzhou in China’s Henan Province have affected supply chains of several major multinational companies, including Apple Inc., FedEx Corp. and Nissan Motor Co. Ltd., Global Times reported. Major iPhone supplier Foxconn Technology Co. Ltd. had to suspend certain operations on July 21 due to heavy floods, while Nissan had to suspend production after some damage to the manufacturing equipment at its Dongfeng Nissan Zhengzhou factory.