A major manufacturer of Apple products could halt production for another week if the new coronavirus outbreak grows. One source warns that the epidemic could have a “big” impact on the tech giant’s product availability, according to a published report Monday.
Reuters cites sources at Taiwan-based Foxconn who say “almost all” production of the iPhone in China has ceased until at least February 10 and could extended even further.
Apple’s top supplier is promising to start production at its Wisconsin plant sometime in 2020, even though the company already fell short of previous goals.
Foxconn founder Terry Gou made some vague promises about the plant to employees at a party in Taipei earlier this month. Gou, who secured $4 billion in tax incentives for the plant, said he plans to spend a lot of time in the United States this year and wants key employees to come with him.
India wants to woo Apple suppliers into opening factories in the country. To that end, it may offer attractive subsidized loans to make it more appealing.
The proposals by the Ministry of Electronics and Information Technology may be part of a new federal budget for February. Alongside the subsidized loans for opening factories, it would also cover “industrial zones equipped with taxation and customs clearance.”
Foxconn has launched an investigation after a group of “management staff” were accused of a $43 million iPhone scam. The scam, which ran for three years, involved a Taiwanese businessman and staff at Foxconn’s Zhengzhou, which manufactures iPhones.
The alleged “crime ring” assembled iPhones out of rejected components, and then sold them on to customers.
iPhone chip-maker Taiwan Semiconductor Manufacturing Company (TSMC) enjoyed a 9% boost in revenue in November.
The increase can be attributed to strong demand for the company’s 7-nanometer chipsets, which power Apple’s latest crop of smartphones. And TSMC is confident the success will continue into the holidays.
Apple contract supplier Foxconn has announced better-than-expected quarterly profits, rising 23%. Apple accounts for an estimated half of all Foxconn revenue, thanks largely to the iPhone.
Foxconn’s earnings offer another data point about rebounding iPhone sales. At worst, they should pacify any investors concerned about weak global demand for Apple’s smartphones.
Apple Watch might go through a big change behind the scenes. Until now, this wearable has been assembled mostly by Quanta, but that’s reportedly going to change next year. No less than three companies are going to take on the job.
Apple is reportedly spending $1 billion on growing its production capacity in India. This is part of an ongoing move away from the tariffs that will soon be levied on iPhones assembled in China.
It might also help increase Apple’s sales in India.
Apple says that it is working to fix a problem in which too many temporary workers were found illegally working on the iPhone line at a Foxconn factory.
Over the weekend, New York-based watchdog China Labor Watch published a report about alleged violations. These supposedly took place at the biggest iPhone factory in Zhengzhou, China.
However, while Apple acknowledges the group’s point about temporary workers, it maintains the other findings are inaccurate.
Life is good if you’re Apple’s biggest contract manufacturer! Foxconn, a.k.a. Hon Hai Precision Industry, has reported its highest-ever August sales in the company’s 45-year history.
Foxconn sales hit $12.76 billion for August. That’s up 0.2% from one month earlier. This is the sixth consecutive month in which Foxconn has registered month-on-month increases. While it can’t necessarily all be chalked up to Cupertino, Apple represents more than 40% of Foxconn’s total sales.
Apple may be trying to wean itself off manufacturing in China, but despite its use of factories in Brazil and India, it’s actually relying on China more than ever.
According to Reuters, the majority of Apple suppliers have become increasingly concentrated in China. Although Apple uses small factories outside the country, these are typically used only for small domestic runs.
Frequent Apple contract manufacturer Foxconn recruited kids as young as 16 to work on its production lines, leaked documents show. The company reportedly pushed the teenagers to work nights and overtime as part of the job.
On this occasion, however, Apple isn’t the company under fire. The recruits (classed as “interns”) were working on the Amazon production line. They were building devices like the Echo smart speakers.
Apple has teamed up with investors including Foxconn, Microsoft and… the National Bank of Kazakhstan to participate in a new “technology mega fund.”
The $108 billion fund is organized by SoftBank Group Corp. The goal is to focus on investing in A.I. related technologies.
Apple is reportedly significantly increasing iPhone production in India. Rather than just making low-end handsets, the latest top-tier models will be manufactured and sold there.
These will be less expensive than imported units and might improve Apple’s sales in this huge potential market.
It’s not just Apple which relies on, well, Apple to make money. There’s a whole ecosystem of other companies orbiting the giant Cupertino sun, too. And they’re all affected by whatever news raises or lowers Apple’s share price.
That’s what took place this week when Wall Street’s latest wobble about Apple sent out shockwaves through the supply chain. As a result, a whole lot of companies which do business with Apple suffered their own sympathy stock declines.
Foxconn, Apple’s oldest and largest supplier, has announced its new boss. Young Liu will step into the role of chairman after billionaire founder Terry Gou announced that he was stepping down.
Gou, who is 68 years old, is planning to run as a candidate in the 2020 presidential election in the Taiwanese elections.
Apple warned U.S. trade representatives this week that President Donald Trump’s plan to impose more tariffs on Chinese goods will negatively impact its contributions to the U.S. economy.
In a letter written to U.S. trade representative Robert Lighthizer, Apple urged the government not to impose tariffs. The new set of tariffs would make Apple’s products more expensive and give Apple’s competitors an advantage.
Apple has reportedly asked its main suppliers to evaluate the cost of shifting 15% to 30% of their production from China to Southeast Asia.
This is a response to the burgeoning China and U.S. trade war, which has already impacted Apple’s share price. If new tariffs go into effect, it could drive up the cost of Apple devices considerably.
Apple manufacturing partner Pegatron plans to invest up to $1 billion in a new iPhone chip plant in Indonesia.
The Taiwanese company outlined its plans in a letter of intent to the Indonesian government, according to a new report. Pegatron plans to work alongside local company PT San Nusapersada.
Foxconn is Apple’s biggest supplier, and the world’s largest contract manufacturer. However, that wasn’t enough to stop it from underperforming in its latest quarterly earnings.
The company, whose official title is Hon Hai Precision Industry, reported net profits of T$19.82 billion ($637.26 million) for the first three months of 2019. That might sound good, but it’s down 17.7% from the year-ago quarter.
Foxconn CEO Terry Gou visited President Donald Trump at the White House yesterday. Foxconn, which was founded by Gou, is one of Apple’s biggest manufacturers.
Gou discussed his plans to run for office in Taiwan, where he hopes to become president in next year’s elections. He assured Trump that he would be a friendly partner of the U.S. if elected. “If I am elected, I would be seeking to go to Washington,” he reportedly told the U.S. President.
Departing Foxconn chairman Terry Gou is reportedly heading to the U.S. where he will have a meeting at the White House. The subject of the meeting will be Foxconn’s plans to open a factory in Wisconsin.
Foxconn maintains that it’s working hard to deliver the factory it received $4 billion in tax breaks for. However, behind-the-scenes dealings suggest that the company may be trying to renegotiate terms.
Apple could use next-gen MicroLED displays for a future iPhone, a new report claims.
The report claims that Foxconn, Apple’s biggest supplier, is working hard to win MicroLED orders from Apple — and the iPhone is singled out as the likely recipient.
Foxconn promises that it’s working hard to deliver the Wisconsin factory it received $4 billion in tax breaks for. However, behind-the-scenes dealings show that the company could be trying to renegotiate terms.
A letter from Wisconsin Governor Tony Evers indicates that Foxconn proposed a change to the deal back in March. It is now planning to submit “the necessary documentation” to do so in the coming weeks.
Foxconn swears its committed to bringing 13,000 jobs to Wisconsin just two days after the state’s governor said it wants out from its deal with the Taiwanese company.
Wisconsin governor Tony Evers, who inherited the deal when he took over office in January, said recently that he wants to renegotiate the parameters of the deal that gives Foxconn $4 billion in tax breaks. Not wanting to miss out on all those incentives, Foxconn is adamant about maintaining its course.