Taiwan-head quartered electronics part maker Hon Hai Precision Industry Co. Ltd. has lowered its revenue guidance for 2020, with current production at 50% seasonal capacity, amid disruption caused by the new coronavirus outbreak in China.

The first quarter of 2020 will be "weak but production will fully resume by the end of March," Chairman Liu Young-Way said on a March 3 call. Orders originally planned to be placed in the first quarter will be delayed to the second quarter, he added.

The company, Apple Inc.'s major iPhone assembler, expects revenues from consumer products, enterprise products, and computing products to drop around 15% year over year, while the revenues from components and others to drop around 10%, company executives said on the call. They said the adjusted 2020 guidance on total revenue has been lowered by around 3%. The executives declined to provide an exact figure for its total projected revenue in 2020.

Liu said Hon Hai will not change its production plans drastically and its major product launches will not see a delay in 2020. He added that the company will maintain 70% production capacity in China, and 30% elsewhere. Also known as Foxconn Technology Co. Ltd., Hon Hai's major factories are in China. It also makes and assembles Amazon.com Inc.'s digital reader Kindle and gaming consoles of Nintendo Co. Ltd., Sony Corp. and Microsoft Corp.

However, Liu said he was not able to predict the virus' full impact on its business.

Meanwhile, Hon Hai said it will debut its automobile products in 2021. The company said Feb. 7 that it would partner with Taiwanese carmaker Yulon Motor Co. Ltd. to establish a joint venture that focuses on making electric vehicles and hybrid cars. Hon Hai also said Jan. 16 that it is working with Fiat Chrysler Automobiles NV to look at setting up a joint venture that makes battery electric vehicles.