Topic
Hon Hai Precision Industry Co., Ltd. (trading as Foxconn) is the world's biggest maker of electronic components. Primarily an original equipment manufacturer, its clients include major some of the world’s best known electronics and information technology companies, and products manufactured at its plants include iPads, iPhones, iPods for Apple, Kindles for Amazon, PlayStations for Sony and Xboxes for Microsoft. Foxconn has been involved in several controversies, largely over employee relations in China after a series of suicides and accidents. In 2012, Apple hired the Fair Labor Association to conduct an audit of working conditions at Foxconn.
- During Tim Cook’s visit to Vietnam, Apple says it will raise investments on suppliers in the Southeast Asian country
- The CEO, who visited China just three weeks ago, has become a subject of satirical comments from Chinese internet users
Senior Foxconn managers have discussed the rotating CEO plan for several months, three sources with direct knowledge of the matter say.
At a time when the global euphoria about AI has propelled a three-fold surge in Nvidia’s stock, investors are pointing toward emerging markets for better value and a bigger pool of options.
Foxconn’s new estimate is rosier than previous statements about ‘conservative and neutral’ expectations for 2024.
China’s Luxshare is a key assembler of Apple products including AirPods, the iPhone and Vision Pro.
Jeff Williams was a guest of honour at a gala celebrating the iPhone assembler’s 50th anniversary, also attended by SoftBank CEO Masayoshi Son and Arm boss Rene Haas.
The Apple supplier has set up a new venture in Zhengzhou to sharpen its focus on the electric vehicle industry.
Foxconn, the world’s largest electronics contract manufacturer, did not provide an estimate of the quarterly drop, but said the year’s first three months represent an off-peak season for the industry.
Luxshare is set to buy a 62.5 per cent stake in Taiwanese rival Pegatron’s unit in eastern Jiangsu province, enabling the Shenzhen-based firm to better compete with Apple’s primary supplier Foxconn.
The Taiwanese giant has won approval to invest at least US$1 billion more in a plant it is building in India that will make iPhones and other Apple products, a major ramp-up in its goal of building a hub beyond mainland China.
The Taiwanese company, formally known as Hon Hai Precision Industry, has been diversifying its business outside mainland China, as tensions rise between Washington and Beijing.
New Delhi will provide subsidies under a scheme to boost domestic manufacturing and strengthen the South Asian country’s bid to become a major hub in the global electronics supply chain.
Foxconn-made LEO satellites took off aboard a SpaceX rocket from southern California on Saturday in a bet on corporate and government use.
Chinese authorities are conducting tax audits and reviewing land use by Taiwan’s Foxconn Technology Group on the mainland, state media reported over the weekend.
Chinese authorities are inspecting Foxconn’s facilities in southern Guangdong province and Jiangsu in the east, as well as carrying out on-site investigations into the company’s land use in central Hunan and Hubei provinces.
Foxconn and Nvidia plan to build ‘AI factories’ globally, creating a new type of manufacturing anchored on artificial intelligence.
Foxconn, which makes smartphones for Huawei and Apple, is currently offering a higher hourly rate to workers at its FIH unit in Shenzhen that assembles handsets for the Chinese tech giant than what it pays at its iPhone unit.
It reflects a significant departure from Apple’s previous strategy of selling mostly Chinese-made new devices, as the company adjusts its supply chain.
Some 32 companies have applied for the laptop production incentives, which India hopes will replicate the success of smartphone incentives from 2020.
Apple’s next-generation iPhone 15 is beginning production in Tamil Nadu, in an effort to further narrow the gap between its India operations and main manufacturing base in China.
The Taiwanese company, formally known as Hon Hai Precision Industry, reported on Monday a drop in net profit to US$1 billion after posting a revenue decline.
The reported deal with Apple would represent another high-profile order for Shanghai -listed Foxconn Industrial Internet, which also supplies servers to Amazon Web Services, ChatGPT creator OpenAI and chip maker Nvidia.
The plants, one of which is expected to produce Apple parts including for iPhones, comes as Foxconn seeks to diversify manufacturing away from China.
A Foxconn subsidiary is in talks with India’s Tamil Nadu state to invest up to US$200 million to build a new plant for electronic components in the southern region, two sources with direct knowledge said.
Decision by electronic components giant a setback in New Delhi’s quest to become a global chip hub amid US-China tech war, analysts say.
Apple has reportedly slashed initial production target for the headset due to complex design issues, raising questions for suppliers Luxshare Precision and Bozhon Precision.
The hiring spree at Foxconn comes amid promising signs that China will remain a key manufacturing base for Apple, which has been diversifying its supply chain.
The start-up EV firm filed for Chapter 11 bankruptcy after a deal with Foxconn started to unravel in January as costs exceeded the target price for a new pickup.
Huawei, Alibaba and JD.com lead in smart manufacturing, business-to-business transaction platforms, and customised operations management, respectively.
