Foxconn, the major assembler of iPhones, said today that it expects a return to normal working in its China factories by the end if the month, reports Bloomberg.

Earlier today, Foxconn said  its factories are now operating at about 50% of seasonal capacity but that should ramp up over the course of the month as employees go back to work.

Foxconn Chairman Young Liu said that the net effect could be a flat H1 compared with last year.

“There’s not a huge hit on demand yet so far, but I dare not and don’t want to predict the outlook of the outbreak,” Liu said. “We don’t see a huge issue with our suppliers and we are helping them to secure resources.”

Q1 is normally a seasonal down month for Foxconn.

Liu said Foxconn may reduce its annual revenue forecast to 1-3% growth. Pre-coronavirus, it was for 3-5% growth.