Panama Papers leak suggests iPhone manufacturer Foxconn may have evaded $22 billion in taxes

By Christian Zibreg on Apr 8, 2016

A whopping 11.5 million documents from Panamanian law firm Mossack Fonseca, so-called Panama Papers leak, reportedly suggest that the world’s top contract fabricator Foxconn, which assembles iPhones and many other consumer electronics products for other tech firms, may have evaded taxes worth up to a massive $22.86 billion via investments in Panama’s offshore companies.

Foxconn vehemently denied its involvement in the Panama Papers scandal. In an eyebrow-raising move, the Taiwanese firm then dropped veiled threat it might resort to suing news publications that make up such rumors, according to DigiTimes on Friday. Read More

 

iPhone manufacturer Foxconn buys Apple supplier Sharp in a $3.5 billion deal

By Christian Zibreg on Mar 30, 2016

It’s finally official: the world’s leading contract fabricator, Foxconn, which assembles iPhones and other products for Apple and other consumer electronics companies, has purchased the struggling Japanese giant Sharp, one of Apple’s display panel suppliers, in a deal valued at a reported $3.5 billion.

As reported today by The Wall Street Journal, Foxconn believes this transaction will improve its position on the technology value chain and has plans to expand Sharp’s production capacity and invest in the production of OLED screens that future iPhones are expected to adopt. Read More

 

WSJ: iPhone contract manufacturer Foxconn is delaying the signing of Sharp takeover agreement

By Christian Zibreg on Feb 26, 2016

As previously reported, Apple’s favorite contract manufacturer Foxconn has made a $6.2 billion bid to acquire the ailing Japanese consumer electronics maker Sharp, which has been in the business for a cool 103 years now. Although Sharp’s board has made the decision to accept the offer last Thursday, it seems the acquisition is not a done deal after all.

As reported Friday by The Wall Street Journal, Foxconn is reportedly delaying the signing of the takeover agreement after it had been “surprised” by new information Sharp had disclosed just a day before. Read More

 

Foxconn to acquire Sharp for $6.2 billion

By Cody Lee on Feb 24, 2016

Apple partner Foxconn is set to acquire Sharp for roughly 700 billion yen (or $6.2 billion USD), reports Nikkei Asian Review. The outlet says that Sharp’s board voted on Thursday morning to accept the offer, and plans to restructure its operations under the Hon Hai umbrella.

The deal, which has not been officially announced yet, comes after years of failed negotiations between the two companies. Foxconn has made several attempts to acquire the struggling electronics giant, or large pieces of it, with the latest offer of $5.3 billion coming in January. Read More

 

Foxconn makes a $5.3 billion offer to buy ailing iPhone display supplier Sharp

By Christian Zibreg on Jan 21, 2016

The Wall Street Journal has it on good authority that Foxconn, the world’s biggest contract fabricator that assembles products for Apple and other companies, is buying Sharp, an iPhone display supplier.

Sharp has been in financial crisis for several years and banks have bailed it out twice in three years.

Foxconn has reportedly offered approximately ¥625 billion, or about $5.3 billion, to acquire Sharp. Back in 2013, Foxconn was supposed to buy a large stake in Sharp, but the deal quickly collapsed over share price dispute. Read More

 

Sharp and Foxconn rumored to build and assemble touch modules for iPad Pro

By Christian Zibreg on Aug 20, 2015

The plot is thickening following yesterday’s analyst report that Apple’s larger-screened iPad is entering mass production in September and October and recent sightings of an unreleased “iPad6,8” model with a screen resolution of 2,732-by-2,048 pixels in commercial app analytics data.

According to Asian trade publication DigiTimes, Japanese giant Sharp and Foxconn, the world’s top product assembler, will be supplying touch modules for the larger iPad, tentatively dubbed by the press the iPad Pro. Read More

 

Foxconn looking to open first iPhone manufacturing plant in India

By Cody Lee on Jun 11, 2015

Apple’s high profile manufacturing partner Foxconn Technology is in talks with government officials to build iPhones in India, reports Reuters. An Industries Minister told the publication that “Foxconn is sending a delegation of their officers to scout for locations in a month’s time.”

Altogether the Taiwanese-based tech giant, which is the world’s larger contract maker of electronics, is aiming to develop 10-12 facilities in India, including factories and data centers. No additional details regarding the plans were given, but Reuters says the goal is to be done by 2020. Read More

 

Latest behind-the-scenes Foxconn report depicts improved worker conditions

By Cody Lee on Apr 6, 2015

Ahead of its upcoming Code Asia conference, Foxconn granted tech publication Recode guided access to its manufacturing facility in Shenzhen, China where it assembles iPads, Macs and other products. We’ve seen similar behind-the-scenes reports in the past, but today’s piece offers a current look at employee conditions inside one of Foxconn’s largest factories.

During their tour, Recode says that it observed both the remnants of past tragedies and several signs of improvements. For instance, there are still nets atop of buildings to help prevent suicide jumps, and many buildings are still covered in rust and grime. But Foxconn has added several college-like amenities such as a track, multiple swimming pools and an Internet Cafe. Read More

 

Apple to begin iPhone trade-in program in China, with Foxconn’s help

By Jake Smith on Mar 25, 2015

Bloomberg reports Apple plans to introduce an iPhone trade-in program in China, similar to what’s currently available from the company in the US, UK, India, and other countries. As China becomes one of Apple’s most important markets, the ability to sell more iPhones is always a plus. Read More

 

iPhone’s monster December quarter brings huge earnings to Apple suppliers

By Jake Smith on Jan 12, 2015

Apple suppliers Taiwan Semiconductor Manufacturing Co. and Foxconn’s Hon Hai Precision saw record monthly revenues in December thanks to the huge fourth-quarter Apple’s iPhone saw, regulatory filings with the Taiwan Stock Exchange revealed on Monday. Read More

 

Foxconn’s upcoming $2.6 billion plant rumored to produce iPhone sapphire screens

By Christian Zibreg on Nov 26, 2014

Its deal with GT Advanced Technology — which filed for Chapter 11 bankruptcy protection after failing to ramp up sapphire production in time for the iPhone 6 launch — has collapsed but Apple isn’t giving up on the precious gemstone entirely yet.

A report Wednesday by Focus Taiwan alleged that Foxconn’s upcoming $2.6 billion facility in central China will be churning out screens for Apple’s mobile devices that use synthetic sapphire crystals for increased durability and protection. Read More

 

Foxconn building $2.9 billion plant to churn out displays exclusively for Apple

By Christian Zibreg on Nov 20, 2014

Foxconn, the world’s top contract manufacturer and Apple’s favorite gadget assembly shop, is planning on burning NT$80 billion, or approximately $2.6 billion, on a brand new manufacturing facility in Taiwan that will produce displays exclusively for Apple, Bloomberg reported Thursday morning.

The plant will employ more than two-thousand workers and is being built after “an urgent request for exclusive capacity” from Apple, indicating that the iPhone maker is anticipating growing demand for its devices in the coming years. Read More

 

Tim Cook stops by Foxconn iPhone factory during China trip

By Cody Lee on Oct 23, 2014

Tim Cook paid a visit to Foxconn’s iPhone manufacturing plant in Zhengzhou today, one of what could be many stops during his China trip. The Apple CEO tweeted out “Great to meet talented like Zhang Fan, who helps make iPhone 6 in Zhengzhou,” along with a photo.

Cook’s face is a familiar one at many Asian supplier factories, thanks to his long tenure as Apple’s operations chief and the company’s recent commitment to comply with Fair Labor Associations guidelines. In fact, he visited the Zhengzhou plant as recently as spring 2012. Read More

 

Apple pushing Foxconn to hire aggressively to cope with strong iPhone 6 demand

By Christian Zibreg on Sep 30, 2014

As Apple’s recently released iPhone 6 and iPhone 6 Plus continue to face strong demand from fans around the world, the Cupertino firm has reacted by pushing its favorite contract manufacturer, Foxconn, to hire more workers to help assemble the handsets, Taiwanese trade publication DigiTimes reported Tuesday.

A large-scale aggressive hiring for Foxconn facilities in Shenzhen and Zhengzhou is currently underway, with sources noting that working on assembly lines is no longer as attractive as before for workers in China. Read More

 

Despite its highest daily output ever, Foxconn still struggling to boost iPhone 6 production

By Christian Zibreg on Sep 17, 2014

Despite huge investment it’s made in production lines, workers, sophisticated machinery and tooling equipment, Foxconn, the world’s largest contract fabricator, is having issues keeping up with massive iPhone 6 and iPhone 6 Plus demand, The Wall Street Journal’s Digits blog reported Wednesday.

“For iPhone 6 Plus, we are still ramping up the production line,” sources tell WSJ. ”Another reason for the limited supply is the shortage of 5.5-inch displays”.

Another person at a display component supplier told the paper that Foxconn is scrapping almost half of the 5.5-inch panels due to quality control issues. The output rate of the 4.7-inch display is reportedly better at 85 percent.

Manufacturing woes stem from the in-cell display technology which allows for a thinner and lighter screen assembly by integrating touch sensors into the liquid crystal display. Read More

 

Foxconn worker arrested for leaking iPhone 6 parts

By Sébastien Page on Sep 16, 2014

The Chinese police arrested a Foxconn factory worker suspected of having stolen and sold shells of the iPhone 6 on September 4, reports the WSJ today. Motivated by money, the man had stolen no less than 6 shells that he sold to a local electronics market in Shenzhen.  Read More

 

Weight, size, camera design, battery: more details about iPhone 6 emerge

By Sébastien Page on Aug 22, 2014

A new report shared by French publication iGen reveals more information about the two iPhone 6 models Apple is set to announce next month. Based on details obtained from a source inside Foxconn, the report sheds more light about the weight, size, camera design, and battery of models N61 and N56, code names for the 4.7 and 5.5 inch iPhones respectively. Read More

 

Mass production of 4.7-inch iPhone 6 to begin this month, 5.5-inch in August

By Cody Lee on Jul 17, 2014

Reuters is out with a report this evening regarding the production timeline for Apple’s iPhone 6. Citing local media sources, the outlet says that the 4.7-inch model is set to begin mass-production later this month, with the 5.5-inch ramping up in August.

The bulk of the manufacturing will take place at Taiwan’s Hon Hai Precision Industry Co, also known as FoxconnPegatron is also said to be taking orders for the upcoming handset, and both companies have gone on hiring sprees to handle the workload… Read More

 

New report says Foxconn’s robots will play more of a supporting role in factories

By Cody Lee on Jul 9, 2014

Earlier this week, word got out that Foxconn is preparing to deploy sophisticated robots to help assemble devices in its factories. The so-called ‘Foxbots’ have been in testing for years now, and CEO Terry Gou says the first units will help manufacture Apple’s iPhones.

Today, a new report is out from Taiwan’s United Daily News that offers up new details on the program. According to the outlet, the robots will play more of a supporting role initially. Foxconn employees will still be responsible for general assembly and quality control… Read More

 

Foxconn confirms it’s starting to deploy robots to help assemble iPhones

By Christian Zibreg on Jul 7, 2014

Hon Hai Precision Industry Co., Ltd., also known in the Western world as Foxconn, the world’s largest contract manufacturer, will soon start deploying sophisticated robots to help assemble iPhones, CEO and Chairman Terry Gou announced during a shareholder meeting Monday.

Foxconn assembles a range of consumer electronics products for other companies, including iPhones and iPads. The plan to replace factory workers with robots was first announced two years ago, but hit roadblocks due to high cost of robot deployment… Read More

 
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