Tsai, a former senior manager at Foxconn, stole and then sold some 5,700 iPhones in recent years, which netted him and his accomplices about $1.56 million. An internal audit at Foxconn discovered the scheme earlier this year, and Tsai now faces a maximum sentence of 10 years in prison. More →
The price of Apple shares dropped like a rock earlier this year after the company reported a worse than expected decline in iPhone sales for the March quarter. On year, iPhone units sales plummeted by 10 million iPhones, which inevitably led to doomsday prepping among finicky investors. The tide turned quickly though, and Apple share have since recouped those losses and then some when June-quarter earnings were better than expected.
Of course, iPhone sales are still sinking despite how well the fiscal third quarter was aligned with investor expectations, and Apple isn’t the only company that relies on iPhone sales as its chief moneymaker. More →
Foxconn’s $3.8 billion acquisition of Sharp recently passed anti-trust scrutiny in China and will now proceed as planned, according to a report from Reuters. In a statement made on the mater earlier today, Foxconn said that the two companies will now be able to move on and “complete the transaction in accordance with our agreement as soon as possible.”
Apple’s recent decline in iPhone sales is bad news for more than just shareholders. A report in the WSJ details the losses being suffered by some of Apple’s biggest component suppliers. While that’s bad news for the manufacturers, it could lead to even worse problems for Apple down the line.
The report makes for dire reading, if you’re an Asian manufacturing magnate: Foxconn, Apple’s long-term assembler, saw its first-quarter profits down 9.2%; Sharp, the screen manufacturer recently bought up by Foxconn, fell into an operating loss, as did the Sony division that makes camera modules. It’s not just Apple — profits for smartphone assemblers and component manufacturers took a dive across the board. But bad times for Apple’s iPhone manufacturers could have serious knock-on problems for iPhone production down the line.
Few people outside of China have a real appreciation for not only how big Foxconn is, but just how many products it helps manufacture. While Foxconn is typically mentioned in the same breath as Apple, the company’s list of customers reads like a who’s who of technology heavyweights: Amazon, BlackBerry, Dell, Google, HP, Cisco, Microsoft, Nintendo, and Sony, just to name a few.
Apple is willing to do anything necessary to make sure it has a steady flow of components from suppliers when it comes to its best-selling products, and a new report from Bloomberg seems to confirm just that. The report reveals that Apple has apparently made an urgent request to Foxconn, the largest device manufacturer in the world and one of the main iPhone and iPad makers, for preferential treatment. And it looks like Foxconn will satisfy Apple’s request, even if that means making a $2.6 billion investment in the process. More →
After some users discovered the iPhone 6 Plus bends when held in pockets in a certain manner, the phenomenon quickly turned into a PR problem for Apple, as #Bendgate videos went viral on YouTube, showing that the phone can be easily bent if enough force is applied in a certain way. Apple has largely refuted those claims by explaining its extensive iPhone torture testing, and saying replacements may be in order for affected customers. Apple’s claims were then backed up by a similar torture tests from Consumers Reports. Now even Foxconn, which makes the iPhone 6 Plus for Apple, has come out in denial of Bendgate with a wild conspiracy theory-type claim. More →
On Wednesday, about 1,000 workers at a Foxconn factory in southwest China reportedly walked off the job to go on strike. Foxconn said workers walked off the job for about four hours at the factory in Chongqing, where they’re demanding higher pay after a recent increase in production and reduction in overtime.
Launching a smartphone in 115 countries and regions within a four month timespan would be difficult enough to pull off without unprecedented demand, but if Apple is going to push its latest flagship worldwide, it’s going to need some help. Digitimes reports that iPhone 6 and iPhone 6 Plus manufacturer Foxconn Electronics is hiring workers at its Chinese plants in droves in order to meet demand. More →
Even though we’ve grown very used to seeing Apple products leak well before they’re launched, the iPhone 6 seemed to leak even more than usual as we couldn’t go a day without seeing yet another leaked picture of the device’s rear shell. The Wall Street Journal now reports that a Foxconn employee has been detained by Chinese police for his alleged role in stealing iPhone 6 rear shells from a Foxconn factory and selling them to a local electronics retailer for 1,000 yuan (~USD $162) a piece. More →
Apple is without question Foxconn’s largest and most important client. The China-based electronics manufacturing giant has seen its revenue skyrocket since it began building iPhones and iPads for Apple, and 2014 will seemingly be the biggest year yet for the iPhone, with two new models set to debut and as many as 80 million units on order.
Since the iPhone 6 and “iPhone Air” phablet comprise Foxconn’s most important project ever, the company isn’t taking any chances — the biggest of Foxconn’s big guns has been called upon to ensure that everything goes as planned. More →
Foxconn has recently confirmed that it plans to deploy a fleet of robots in some of its factories to work on products for Apple, but the “Foxbots” will not be able to replace its human workforce just yet. Quoting a report from Chinese site UDN, G for Games says that robots will only play a supporting role in building devices such as the iPhone 6, as they won’t be able to perform certain tasks that require more subtle assembly or manufacturing procedures. More →
Foxconn is on an iPhone 6-related hiring spree, but the giant Apple supplier isn’t only looking for human workforce. IT Home reports that Foxconn may rely on some 10,000 robots to make Apple’s 2014 iPhone models, in addition to humans, with each machine capable of building up to 30,000 units per year, for a theoretical total of 300 million iPhones per year. More →