Foxconn’s stellar September suggests strong iPhone XS sales


Apple and Foxconn have especially close business ties.
Photo: Foxconn

Foxconn is best known for assembling iPhones, so it’s watched as a sign of demand for Apple’s most important product.  The Chinese company just reported its revenue increased 30 percent last month, an indication that there’s plenty of demand for the iPhone XS models that debuted in September.

This is just the latest hint that Apple’s latest are performing well.

Foxconn teams with Wisconsin university for $100 million lab


Foxconn signing
Foxconn's Terry Gou and UW–Madison Chancellor Rebecca Blank sign a partnership agreement.
Photo: Bryce Richter/University of Wisconsin-Madison

Foxconn has pledged up to $100 million to the University of Wisconsin-Madison to fund a new research facility for its College of Engineering.

This facility will collaborate with Foxconn’s planned manufacturing plant in southeast Wisconsin. Funding will be used to investigate subjects including artificial intelligence, 8K resolution, robotics, and 5G wireless technology — along with human health areas, such as genomics research and medical imaging.

Foxconn is already scaling back plans for Wisconsin factory


Foxconn is coming to Wisconsin.
Photo: Foxconn

State representatives in Wisconsin are worried that Apple supplier Foxconn might be about to pull off “the mother of all bait and switches” with its proposed factory in the state.

Foxconn is allegedly scaling back its plans for the factory which could get $4 billion-worth of subsidies and infrastructure spending. Despite President Trump attending the groundbreaking ceremony this past June, construction still hasn’t begun and the plant could be much smaller than originally planned.

iPhone manufacturer struggles despite record revenues


Foxconn just announced its lowest net profits in five years.
Photo: CBSRe

With Apple recently hitting a $1 trillion valuation, you’d think it would be a great time to be an Apple supplier. According to new quarterly earnings released by Apple’s long-time manufacturer Foxconn, however, that’s not entirely true.

As revealed in Foxconn’s latest financials, consolidated revenues rose 17 percent year-on-year to reach a new historical high of $34.43 billion for Q2 2018. Unfortunately, net profits for the quarter fell 2.18 percent on-year to their lowest level in five years.

Foxconn is hiring to ramp up production for iPhone refresh


Foxconn is one of Apple's oldest suppliers.
Photo: CBS

This year’s iPhone refresh could be the super cycle Apple’s been waiting for — and manufacturer Foxconn is taking steps accordingly.

As per a new report, the manufacturing giant, which employs around 1 million people in China alone, is ramping up its hiring for people willing to work on the iPhone production line. And it’s offering incentives to help with the recruitment drive!

Foxconn starts Silicon Valley invasion with new AI company


Foxconn AI
Foxconn founder Terry Gou, right, plans to bring a new AI-centered company to the Silicon Valley.
Photo: Voice of America/Wikimedia Commons

Foxconn Technologies is starting a new company in California’s Silicon Valley to concentrate on artificial intelligence for factory floor automation.

The plan comes as Foxconn looks for ways to deal with the slowdown of smartphone sales globally, demands for higher wages and a changing workforce that is sidestepping manufacturing. Foxconn assembles thousands of iPhones and iPads and is among Apple’s biggest contractors.

Here’s how much each country makes off the iPhone 7


The major components for the iPhone 7 come from a variety of counties. Most at of the profit still goes to the U.S.
Photo: Ste Smith/Cult of Mac

The iPhone is made in China, so most of the profit stays over there, right? Actually, everything in that sentence is wrong.

A new study finds that China makes less than $9 from each iPhone 7. Some of the rest goes to other Asian countries, but the lion’s share is earned by Apple and other U.S. companies.

Trump praises Apple at groundbreaking for Foxconn’s U.S. plant


Donald Trump speaks to supporters at an immigration policy speech at the Phoenix Convention Center in Arizona.
At a groundbreaking ceremony for the Wisconsin Foxconn plant, President Trump applauded Apple's contribution to the U.S.
Photo: Gage Skidmore/Flickr CC

A groundbreaking ceremony today for a huge Foxconn plant was attended by President Trump. Foxconn is best known for assembling the iPhone, but this plant in the Midwest will produce LCD screens.

Although Apple isn’t directly involved with the production facility, the president still used his speech this morning to applaud the iPhone maker.

Foxconn scores generous benefits package for first U.S. factory


Wisconsin is offering a super generous package to attract Foxconn.
Photo: CBS

Wisconsin will be the site of a new display factory built by Apple manufacturer Foxconn — but local residents will be paying for it.

According to a new report, Wisconsin residents will be coughing up an extra $1 billion on top of the existing $3 billion package of subsidies to attract Foxconn to the area. This “sweetener” will come out of public funds, and will leave the state “on the hook” for 40 percent of the public bonds which finance local expenses should the project flop.