Factory warranty refers to a guarantee provided by the manufacturer of a product that it will be free from defects or malfunctions during a specified period of time, usually covering the first year after purchase. This means that if any issues arise with the product within this period due to faulty materials or workmanship, the manufacturer will repair or replace the item at no additional cost to the consumer. The warranty is intended to provide peace of mind and assurance that the product has been thoroughly tested and meets high quality standards before being sold in the market.