Apple supplier sees profits slow
Apple supplier Foxconn reported a one per cent drop in second-quarter net profit, as global economic woes hurt demand for smart consumer electronics.
Could get worse, but not worth flinging yourself off a building over
Foxconn saw its revenue fall 11.77 per cent year-on-year due to weakness in smart consumer electronics and expects business to drop even more this quarter.
Wants to treat workers like it did in China
Apple and Foxconn, the technology giant's manufacturing partner, have successfully lobbied for landmark labour law reforms in the south Indian state of Karnataka which will enable them to treat workers like they did in China.
Nothing to do with Apple
Foxconn, Apple's biggest supplier and contract manufacturer, has seen a slump in revenue due to weaker demand for electronics in February 2023, but the Tame Apple Press has made no mention of Jobs' Mob's sales slumping as being the cause.
Preparing for Chinese apocalypse now
Foxconn has signed a $62.5 million lease on 45 hectares of land in Vietnam and it continues to shift out of China.
Foxconn accused of not changing wages and mixing infected and uninfected workers
Hundreds of Foxconn workers in China's Zhengzhou district violently clashed with police after the company changed contracts to reduce their salary and mixed workers infected with Covid with those who were not.
Wants to avoid zero Covid policy
Foxconn has had a gutsful of China’s zero covid policy and is moving some of its operations to a country which still has cheap labour but whose government does not shut down a region when a worker gets a snuffle.
Foxconn locked them in for two weeks
Workers are fleeing the Foxconn in China’s Zhengzhou and swearing that they will never return after being locked in for two weeks under China’s tough zero Covid policy.
China gets problematic
Foxconn will invest $19.4 billion to make semiconductors in India and will work with the mega mining outfit Vedanta to make it so.