China's Covid Zero strategy is "dramatically" reducing key material at shoe factories, which derive about 60% of supplies from China, said Phan Thi Thanh Xuan, vice chairwoman of the Vietnam Leather Footwear and Handbag Association. Adidas SE this month cut its profit targets, saying supply bottlenecks in Vietnam have reduced the availability of products, eroding sales. Technology & Games The eastern Chinese region around Shanghai is a key center for tech production, and component shortages are hitting companies across the board. Giants from Microsoft Corp. to Texas Instruments Inc. have said the lockdowns will crimp sales and make it harder to produce products like the Xbox. Apple Inc. said last month that the restrictions will take a toll on its June results, with supply constraints costing $4 billion to $8 billion in revenue.