iRobot Takes a Big Step Toward Negating the Impact of Chinese Tariffs
It's no mystery that tariffs and the ongoing U.S.-China trade war have done iRobot (NASDAQ: IRBT) no favors. The home robotics leader has made as much clear in each of its past several quarterly reports, culminating in a steep drop after last month's update that sent iRobot shares to a fresh four-year low.
On Wednesday morning, however, iRobot (NASDAQ: IRBT) announced a key step toward blunting the impact of tariffs on its bottom line, saying it has commenced production in a new Malaysian factory earlier than previously expected.
For perspective, during last month's earnings call, CEO Colin Angle told analysts the company was on track for Malaysian "volume production to begin in 2020."
Source Fool.com
