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South Korea’s Qcells Cuts Pay and Hours for Georgia Workers Amid U.S. Customs Delays

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South Korean solar manufacturer Qcells is cutting pay and working hours for about 1,000 employees at its Georgia plants, citing a shortage of imported materials detained by U.S. customs officials. The company will also lay off 300 temporary workers, it said on Friday.

The U.S. Customs and Border Protection (CBP) agency has been holding shipments of solar panel components over concerns that they may contain materials made with forced labor in China. The detentions are part of stepped-up enforcement of the Uyghur Forced Labor Prevention Act, which restricts goods linked to China’s Xinjiang region.

Qcells — a subsidiary of Hanwha Solutions — says none of its materials come from China and that it maintains robust supply chain audits and third-party documentation proving compliance. “Our latest supply chain is sourced completely outside of China,” said company spokesperson Marta Stoepker, adding that some detained shipments have already been released.

With production still slowed at its Dalton and Cartersville facilities, Qcells said the temporary cuts were necessary “to improve operational efficiency until production capacity returns to normal.” Employees will keep their benefits during the reduced schedule.

Despite the disruption, Qcells reaffirmed its commitment to expanding U.S. manufacturing. The company is completing a $2.3 billion solar plant in Cartersville, designed to produce solar ingots, wafers, and cells from polysilicon refined in Washington state — a move aimed at reducing reliance on imports.

“Our commitment to building the entire solar supply chain in the United States remains,” Stoepker said. “We will soon be back on track with the full force of our Georgia team delivering American-made energy.”

Nexperia Warns It Cannot Guarantee Quality of China-Made Chips After October 13

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Dutch semiconductor manufacturer Nexperia said it expects to resolve the ongoing crisis over control of the company but cautioned customers that chips produced in China after October 13 may not meet its quality or authenticity standards.

The warning follows a turbulent period for the firm, which saw the Dutch government seize control of Nexperia on September 30 amid national security concerns, and China respond by blocking chip exports on October 4. The resulting standoff has disrupted supply chains for automakers and electronics manufacturers that rely on Nexperia’s components.

The company said its operations outside China — including facilities in Europe, Malaysia, and the Philippines — remain unaffected and are functioning normally.

In a statement, Nexperia welcomed assurances that, under a new U.S.-China agreement, it will be exempt from American export restrictions for one year. Beijing has also said it will allow exports on a “case-by-case” basis.

Nexperia’s Chinese parent company, Wingtech Technology, remains under U.S. restrictions, and its founder Zhang Xuezheng was suspended as Nexperia CEO by a Dutch court on October 7, contrary to earlier reports suggesting he retained control.

While most of Nexperia’s chips are manufactured in Europe, about 70% are packaged and distributed in China, where the local unit has declared operational independence and claims to have sufficient inventory to meet demand through 2025.

The Dutch firm said it remains committed to maintaining its Chinese operations while seeking alternative packaging and supply solutions to ensure “product availability in a sustainable manner.”

Apple Shares Rise as Strong Holiday iPhone Sales Forecast Eases Supply Concerns

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Apple shares climbed about 2% in premarket trading on Friday after the company’s upbeat holiday quarter forecast reassured investors that strong demand for the iPhone 17 lineup is driving a sales rebound despite ongoing supply delays in China.

The company’s latest projections, announced earlier this week, helped ease concerns about production bottlenecks that had weighed on fourth-quarter performance. The optimism pushed Apple’s market capitalization back above $4 trillion, placing it alongside tech giants Nvidia and Microsoft in the exclusive multi-trillion-dollar club.

Investors also took comfort in Apple’s measured approach to integrating artificial intelligence, with analysts noting that the company’s strategy emphasizes precision over speed. “When you’re really big like Apple, you don’t have to move fast — sometimes you just have to get it right eventually,” said Eric Clark, Chief Investment Officer at Accuvest.

Despite its rally, Apple remains one of the weaker performers among the “Magnificent Seven” group of mega-cap tech stocks this year, trailing Nvidia and Microsoft but showing resilience amid global supply headwinds.

According to LSEG data, Apple’s stock trades at 33.4 times analysts’ earnings forecasts, above Microsoft’s 31.7 and Meta’s 22.3, reflecting investor confidence in the company’s long-term innovation and profitability.