Foxconn

Foxconn investigation finds underage interns working at Chinese factory

October 16th, 2012

After conducting an internal investigation, Foxconn (2038) issued a statement saying it discovered some of its interns at its Yantai facility in the Shandong Province were as young as 14-years-old, two years under China’s legal employment age. The company responsible for mass-producing some of the world’s most popular gadgets including the iPhone 5 told CNET in an emailed statement: “This …

4,000 Foxconn workers on strike over iPhone 5 quality control measures, inadequate training [updated]

October 5th, 2012

Raymond Wong

China Labor Watch is reporting that another Foxconn strike broke out on Friday at the Zhengzhou factory in China. The report says 3,000 to 4,000 Foxconn (2038) are complaining about Apple’s (AAPL) demanding quality standards for the iPhone 5. China Labor Watch further reports that workers are under immense pressure to deliver iPhone 5’s without receiving …

Dozens injured, 20 arrested when massive riot erupts at Foxconn plant [video]

September 24th, 2012

Zach Epstein

Approximately 40 people were injured and 20 were arrested when a massive riot broke out Sunday at Foxconn’s (2038) Taiyuan plant in Northern China. Details are still conflicting, however early reports from Engadget suggest the incident began after a security guard struck a worker during anti-Japan protests at around 10:00 p.m. local time on Sunday. The plant, …

Foxconn denies forced labor reports, claims interns can leave any time

September 7th, 2012

Dan Graziano

Foxconn (2038) has denied recent reports that claim the company is forcing Chinese university students to assemble iPhones at one of its plants. The manufacturing giant revealed in a statement to Bloomberg that a recent audit by the Fair Labor Association found no evidence that any interns were pressured to participate at Foxconn’s factories in China. …

FLA still not completely satisfied with working conditions in Foxconn’s Apple plants

August 21st, 2012

Brad Reed

The Fair Labor Association has given Apple (AAPL) and Foxconn a tentative thumbs up for their efforts to improve working and safety conditions for their manufacturing workforce, Reuters reports. However, the association also said that Apple and Foxconn still need to submit to audits to ensure that workers aren’t made to work past the legal limit …

Foxconn’s interest in Sharp could spell trouble for one of Japan’s oldest companies

August 17th, 2012

Dan Graziano

Foxconn (2317) is reportedly interested in doubling its planned stake in Sharp (SHCAY) from 9.9% to nearly 20%, according to a report from Japan’s economic journal The Nikkei. In March, Foxconn agreed to invest more than $800 million in the troubled Japanese company, a move that would see it become Sharp’s largest outside shareholder. The …

Foxconn to invest as much as $10 billion in Indonesian plant

August 15th, 2012

Dan Graziano

Foxconn (2354) is planning to invest between $5 and $10 billion over the next 5 to 10 years in a production plant in Indonesia, Reuters reported. The plant will initially be responsible for the assembly and production of an estimated three million handsets per year, according to Indonesia’s Trade Minister Gita Wirjawan. The first investment …

Foxconn looks for a board seat at Sharp as Apple HDTV nears

July 20th, 2012

Dan Graziano

Manufacturing heavyweight Foxconn (2354) is reportedly interested in acquiring board seats at Sharp Electronics (6753), DigiTimes reported on Friday. The company received three non-executive board seats at Sharp Display earlier this month after it acquired a 46.48% stake in the company, equivalent to 1.32 million shares. In response to reports that it was seeking a …

Foxconn plans $1 billion factory in Indonesia to churn out more Apple gear

July 18th, 2012

Dan Graziano

Apple (AAPL) manufacturing partner Foxconn (2354) is planning a billion-dollar factory located in Indonesia, Games Industry International reported on Wednesday. The company said it was drawn to the country over Malaysia and Vietnam due to its high rate of economic growth. Foxconn also noted that the region is “sorely in need” of formal jobs, highlighting that …

Foxconn moves to secure Apple HDTV orders, industry exec says

June 29th, 2012

Zach Epstein

Recent moves by Foxconn were made with the sole intention of securing a deal to manufacture Apple’s upcoming high-definition television, an industry executive recently claimed. Ho Chao-yang, former head of display panel supplier Chimei Innolux and current chairman of Chi Mei Materials Technology, told Digitimes on Friday that Foxconn’s recent investment in Sharp was aimed squarely …