Foxconn Stories December 28, 2016

AAPL: 116.76

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While Foxconn has expressed somewhat of an interest in potentially moving a portion of its operations to the United States, other supply chain manufactures that Apple relies on are reportedly less interested in making the jump. According to a report from Chinese publication qq, manufacturers are turned off by higher labor and operating costs in the United States.

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Foxconn Stories December 26, 2016

AAPL: 116.52

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According to a new report from Chinese news outlet the Economic Daily News, Apple is “aggressively” working to expand its presence in Southeast Asia. The company has been working with Foxconn on the efforts, the report explains, further strengthening the partnership between the two parties.

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Foxconn Stories December 7, 2016

AAPL: 111.03

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iPhone assembler Foxconn has confirmed that it is in preliminary discussions regarding expansion of its U.S. operations after a CNBC report showed a slide seemingly suggesting an investment of $7B and the creation of 50,000 new jobs within the USA.

The news report focused on Japanese company SoftBank pledging to invest $50B and create 50,000 jobs in the USA. However, a slide also showed a Foxconn logo on the right together with reference to an additional investment and extra jobs. The obvious inference is that the numbers on the right refer to Foxconn …

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Foxconn Stories December 2, 2016

AAPL: 109.90

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A worker on Foxconn's iPhone production line (not involved in the theft)
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A former senior manager at Foxconn has been charged with stealing and selling 5,700 iPhones for a total of around $1.5M, reports AsiaOne.

The Taiwanese manager, identified by his family name Tsai, worked in the testing department and instructed eight employees at Foxconn’s factory in the southern mainland Chinese city of Shenzhen to smuggle out about thousands of iPhone5 and iPhone5s, prosecutors said. 

While you have to wonder what kind of security would allow thefts on such a massive scale to go initially undetected, the piece does contain one clue …

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Foxconn Stories August 22, 2016

AAPL: 108.51

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Foxconn Stories August 12, 2016

AAPL: 108.18

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iPhone assembler Foxconn has reported a 31% drop in its Q2 net profit, a hit being attributed to the recent decline in iPhone sales. The company reported net profits of NT$17.7B ($566) against analyst expectations of NT$23.9B, reports the WSJ.

There was some good news for the company, however, as its acquisition of Sharp got the government approval necessary to make the deal fully official.

The impact on suppliers of reduced iPhone demand was first seen back in May, when it was reported that Foxconn, Pegatron, Sharp, Japan Display and Sony had all seen their fortunes falling. The impact on one supplier in particular has worsened dramatically …  expand full story

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