Strong iPhone 13 demand helped Foxconn beat analyst expectations for Q3, and the company sees signs of improvement in chip supplies.
The company, whose biggest customer is Apple, announced a net income of NT$37B ($1.33B), against analyst predictions of NT$32.4B ($1.16B) …
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iPhone assembler Foxconn has bought an EV factory in Ohio in a $230M deal. The purchase was made from electric vehicle startup Lordstown Motors.
While a key Apple supplier buying an EV plant in the US will inevitably create speculation about potential Apple Car production, this appears unlikely …
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Foxconn’s Q3 forecast hints at potential iPhone 13 component shortages, following an earlier warning by Apple that supply constraints with Macs and iPads would extend to iPhone production this quarter.
The company is also reported to be using a new iPhone camera assembly process to reduce costs …
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We learned in June that Apple suppliers in China were having to increase bonuses to help them recruit enough iPhone 13 workers, and a new report today says that they are still struggling to do so.
Both Foxconn and Pegatron were already offering bonuses worth well over a month’s average salary, but even this has not proved sufficient…
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Apple has given Chinese electronics maker Luxshare Precision Industry a big promotion, tapping the company for iPhone 13 production alongside Foxconn and Pegatron. A plan for this was first suggested more than a year ago, and is seemingly now confirmed.
The company currently makes several iPhone components, but this move by Apple is a highly unusual one, letting a new assembler make the latest flagship models …
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Update: The vaccine purchase has now been made.
Apple suppliers TSMC and Foxconn are working on buying millions of doses of COVID-19 vaccines for Taiwan. The plan is for the two companies to buy the vaccines, then donate them to the government for distribution to the people of the island nation.
The indirect arrangement, where the government authorizes private companies to buy vaccines on behalf of the country, is designed to thwart Chinese interference …
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Foxconn Q2 earnings were up 20% year-on-year thanks to demand for Apple products and other electronics made by the company. Around half of the company’s revenue comes from Apple …
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Two Apple suppliers in India have been selected to receive manufacturing incentives, which are likely to be used for iPad production in the country. The scheme is known as a production-linked incentive (PLI) plan.
Foxconn and Wistron were among the companies to qualify for cash-back deals in return for boosting their manufacturing operations in the country …
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Both Foxconn and Pegatron are offering substantial bonuses to help recruit workers for iPhone 13 production, according to a Taiwanese report.
Both companies are offering recruitment bonuses worth well over a month’s average salary, with additional bonuses offered to employees who introduce friends who then accept jobs there …
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Key iPhone assembler Foxconn has echoed Apple’s chip shortage warning that production will be hit this quarter, saying that the lead time for some chips is now anything up to a year.
Apple said during its last earnings call that although the impact on iPhone production would be limited, it did expect shortages of iPads and Macs …
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A COVID-hit Foxconn plant in India has resulted in iPhone production being halved at the facility, as the country struggles to cope with a severe spread of the infection. The country is now the worst-hit in the world in terms of fatalities, having overtaken Brazil last month on a rolling average basis.
More than 100 Foxconn employees at the plant have tested positive, and no staff are allowed to enter the facility until late May …
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Foxconn earnings and expectations for the rest of the year suggest that iPhone 12 demand is set to remain high through the first half of the year.
Chairman Young Liu said that sales of “all product lines” likely grew in the first quarter of the year, and that Foxconn is “cautiously optimistic” on the outlook for the rest of the year …
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A report last month suggested that Apple was taken by surprise by better-than-expected iPhone 12 demand, boosting 2021 production plans by between 20% and 30% – and supporting evidence continues to accumulate.
Counterpoint found that the iPhone 12 was the world’s best-selling 5G phone, Qualcomm’s dramatic boost in Q3 2020 revenue was largely credited to the new iPhone lineup, and other supply-chain sources pointed to reality matching the supercycle hype. Today, record revenues for primary iPhone supplier Foxconn adds to the weight of evidence …
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A Chinese report claims that Apple has had Foxconn and other suppliers make samples of folding iPhones, and that the devices could be launched as early as 2022.
Both Foxconn and Nippon Nippon have been asked to send samples so that Apple can see how they stand up to more than 100,000 fold operations …
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Key iPhone assembler Foxconn has said that iPhone 12 demand is strong, and sees that continuing through the holiday quarter.
The company made the statement at an investor conference today, where it was also asked about the promised Wisconsin plant which has so far failed to manufacture anything …
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Apple suppliers are among the Taiwanese tech companies being pressured by the White House to move their manufacturing operations away from China, says a new report today.
Washington is said to have “weaponized tech supply chains” against China…
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Indian manufacturing incentives proposed earlier in the year have now been confirmed. In return for manufacturing premium smartphones in India, manufacturers will qualify for incentives worth between 4% and 6% of the cost of each device.
Although open to any brand, the scheme has a requirement which is expected to primarily benefit Apple and Samsung …
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iPhone 12 production at Foxconn plants is now running at maximum capacity, with production lines operating 24 hours a day.
The company has reportedly introduced mandatory overtime for workers, and employees have been asked to forgo the eight-day national holiday beginning on October 1 …
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Foxconn smartphone revenue dropped by 15% in the second quarter of the year, according to the company’s latest earnings report. Although Foxconn has a number of phone clients, the majority of its smartphone revenue comes from Apple.
The company had previously warned that the impact of the coronavirus crisis on smartphone demand would be ‘enormous‘ …
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Government action that badly disrupted iPhone production in India is no longer affecting imports of iPhone components, according to a Foxconn statement…
Update: There seems some potential good news ahead. Economic Times reports that the Indian government is considering an exemption to the checks for foreign companies like Apple.
iPhone assembly in India has been badly disrupted as tensions with China continue to rise, says a new report.
Components arriving from China are said to have been held in Indian customs in what seems to be the latest escalation of the fallout from a disputed border between the two countries…
Foxconn says that the coronavirus impact on smartphone demand is set to be ‘enormous,’ and recovery will take ‘a very long time.’
Company chairman Liu Young-way made the comments as Foxconn reported first-quarter profits down 90% year-on-year as a result of production shutdowns in China at the height of the coronavirus crisis there …
Foxconn’s Wisconsin offices remain empty a year after the company said it would “correct” statements about them being unoccupied, says a new report today…
Foxconn is implementing some of the world’s strictest coronavirus precautions as it aims to keep its one million workers safe and iPhone 12 production on schedule.
The Chinese government requires all factories to implement a series of specific safeguards, but Foxconn is going far further …