Chinese devaluation is terrible for Apple, great for its suppliers

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Tim Cook meets with Apple Store employees in China.
Tim Cook meets with Apple Store employees in China.
Photo: Apple

China’s surprise devaluation of the yuan is likely to have a massive impact on Apple and its suppliers.

China devalued its currency in an attempt to boost a flagging economy — resulting in the country’s biggest one-day loss in 20 years.

And while some will be celebrating, others (likely including Tim Cook) can’t be too happy about it!

Foxconn may be planning new iPhone-building factories in India

Tim Cook meeting an iPhone manufacturer in China.
Tim Cook meets a worker at one of Foxconn's China factories. Photo: Apple
Photo: Apple

The India government has previously blocked Apple from opening any brick-and-mortar retail outlets in the country because Apple don’t manufacture any products in India.

That could be about to change, however, thanks to a recent rumor claiming that Foxconn has been given permission to open new iPhone-manufacturing plants in Maharashtra, the heavily-populated state in the country’s western region which claims Mumbai as its capital.

The factories would benefit from government funding aimed at bringing more manufacturing companies to India.

Foxconn CEO wants Apple manufacturers to unite against Samsung

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Samsung is after more of Apple's iPhone business.
Foxconn is no fan of Samsung. Photo: Jim Merithew/Cult of Mac
Photo: Jim Merithew/Cult of Mac

Foxconn’s CEO Terry Gou is no fan of Samsung. In fact, according to a new report, he’s been trying to use his influence as Apple’s biggest manufacturing partner to get Apple to lessen its dependency on Samsung — while a giving a shot to other companies.

The reason? He thinks Taiwanese manufacturers need to work together to overcome the growing threat of the South Korean tech giant, which could potentially swallow all of their jobs.