Early in March, Apple suppliers Foxconn and Taiwan Semiconductor Manufacturing Company announced their intention to bid for a stake in Toshiba’s memory chip unit, which the company has put up for sale in an effort to offset a nearly $6 billion loss related to its overseas nuclear division. TSMC eventually dropped out of the race, leaving Hon Hai (Foxconn) as the highest bidder at nearly 3 trillion yen, or $27 billion.
Today, people familiar with the sale speaking to Bloomberg said that Toshiba is expected to reject Foxconn’s lofty bid, mainly because of likely opposition from both the Japanese and American governments if Foxconn were to win [...]
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In a lengthy new article posted online today, The New York Times has delved into the inner workings of Foxconn’s major iPhone manufacturing plant in Zhengzhou, China, referred to locally as „iPhone City.“ The article describes how the facility became one of Apple’s major global manufacturing plants, as well as the „hidden bounty of perks, tax breaks, and subsidies“ uncovered behind the scenes of Foxconn’s operations — negotiations Apple said it is „not a party to.“
Looking at the origins of Apple’s move to production overseas, the article first details Steve Jobs‘ decision to manufacture the Macintosh in [...]
Following in line with a slump in iPhone sales, Apple manufacturer Foxconn recently reported a 31 percent decline in profits in the second quarter of 2016. For the full quarter, ending in June, Foxconn was said to have amassed a net profit of 17.7 billion New Taiwan dollars, down from NT$25.7 billion a year earlier. Analysts watching the company had expected a revenue of around NT$23.9 billion for the quarter (via The Wall Street Journal).
A doom and gloom sentiment began surrounding Apple, and its overseas manufacturers, soon after the Cupertino-based company reported its first quarterly sales decline since 2003 in April. Despite a strong presence of the iPhone SE [...]