Foxconn Stories January 25
Foxconn Stories January 21
Foxconn Stories January 6
[Update 2: Reuters reports that Foxconn has published an earnings report showing a 20% fall in December revenues. However, the company says that its December earnings were “as expected,” and its full-year earnings are up 6.42% on the previous year, only marginally short of analyst expectations of 7%.]
[Update 1: StreetInsider reports that Foxconn has denied reports that workers started their lunar new year holiday early, and says that the government payout relates to ‘an insurance premium,’ but makes no reference to any response to the claim that it has been laying off workers.]
The WSJ is today suggesting that Apple is scaling back iPhone orders, noting that iPhone manufacturer Foxconn has been laying off workers and has received a $12.6M subsidy from the Chinese government through a program designed to minimize unemployment.
The piece notes that the subsidy is for Foxconn’s Zhengzhou plant, which is mostly devoted to iPhone production, and says that Apple has also reduced order forecasts for iPhone component makers.
Chinese iPhone factories had some idle capacity in the final two months of the calendar year, when they would typically be racing to chongliang, or “rush quantity,” for Apple, in factory-speak. Some workers at Foxconn’s Zhengzhou factory in inland China were let go on early holiday last month, one of the people involved in the supply said, although the typical new-year holiday season doesn’t start until February.
Foxconn Stories October 14, 2015
Foxconn Stories September 28, 2015
Shortly after Tim Cook met with the Chinese President, Apple’s CEO has met with Indian Prime Minister Narendra Modi, as expected. The Times of India reports that the two of them discussed the possibility of bringing Apple Pay to the country, and Prime Minister Modi invited Apple to set up a manufacturing base in the country.
Cook was said to have “responded positively” to the idea, though nothing more specific was announced. We’ve known for some time that Foxconn has plans to build multiple factories in India, but neither company has confirmed that these would be manufacturing products for Apple. Foxconn carries out contract manufacturing for a number of high-profile brands.
Apple does, however, have one strong incentive to manufacture iPhones in India … expand full story
Foxconn Stories September 23, 2015
According to a report from Nikkei Asian Review, Apple manufacturing partner Foxconn has proposed to purchase Sharp’s LCD business. The deal would see Foxconn hold a majority stake in the company, while Apple would also come on board as an investor. The exact breakdown of the partnership between Foxconn and Apple in purchasing Sharp’s LCD business is unclear at this point, but Apple already controls a major portion of the business…