Foxconn

Sharp, Foxconn to continue talks as deadline sails by

The deadline has passed for Sharp and Foxconn to agree on investment terms, but the companies apparently are still trying to resolve their differences.

A one-year deadline was set to give both companies time to reach an agreement on a potential investment that would save Japan-based Sharp, which is in difficult financial straits. The 12-month time period has come and gone. However, Foxconn and Sharp are still trying to set mutually acceptable terms, according to unnamed sources contacted by Bloomberg.

Although no agreement is expected to come any time soon, reports earlier this month suggested that Foxconn Chairman Terry Gou … Read more

Apple supplier Foxconn has record profit

Apple iPhone supplier Foxconn posted a record profit for last quarter after it ramped up operations for iPhone 5 manufacturing, Bloomberg reported today.

Hon Hai Precision Industry Co., better known by its trade name Foxconn, reported a fourth-quarter net income of $1.2 billion (NT$37 billion), exceeding analysts' expectations.

Faced with a high demand for the iPhone 5, the factory group had to smooth out production problems that lead to stalled shipping times for the smartphone. The result was raised revenues and margins, according to Bloomberg.

Foxconn won't be investing in Sharp after all, report says

It looks like Foxconn won't be investing in Sharp after all, according to a new report from an Asian newspaper.

The two companies, which have been talking to revise an earlier agreement, won't reach a new deal by a March 26 deadline, according to Reuters, citing an Asahi report. The publication said Foxconn Chairman Terry Gou informed Sharp's bankers that there'd be no deal this month but that he'd again consider an investment after Sharp creates a new business plan in the near future.

The Asahi newspaper didn't say where it got the information, … Read more

iPhone 5S production rumored to have already begun

iPhone 5S production has already kicked off, a Japanese-language Apple blog reported today.

Foxconn has begun "partial production" of the iPhone 5S, a "reliable source" has told Macotakara. Both MacRumors and AppleInsider cited the report earlier today.

The 5S is being built on the same production line as the iPhone 5, according to Macotakara.

The Japanese blog goes on to claim that NTT Docomo is cutting back on orders for Android devices to make way for introduction of the iPhone. NTT Docomo does not currently carry the iPhone.

Rumors have been swirling in the last 24 … Read more

Sharp, Foxconn deal seems increasingly unlikely -- report

Sharp and Foxconn Technology Group likely won't arrive at a deal by the time their negotiations are scheduled to end in March, a new report claims.

The companies have been in talks for months for Foxconn to acquire a stake in Sharp, but they haven't been able to come to terms. Citing people who claim to have knowledge of the companies' negotiation, Bloomberg is reporting today that they can't come to agreement on the share price Foxconn would pay to acquire a piece of Sharp. The companies are also unwilling to agree on corporate control and overarching … Read more

Key Apple supplier Foxconn slows down its hiring

Apple supplier Foxconn said it is temporarily slowing down recruitment in its factories in China. The move comes amid questions about the enduring demand for the iPhone 5.

A Foxconn representative said in an e-mailed statement to CNET that the decision was "due to an unprecedented rate of return of employees following the Chinese New Year holiday compared to years past."

However, the Financial Times reported a more drastic move -- a hiring freeze -- and attributed it to fewer orders for the iPhone 5.

Foxconn denied that the move was related to any single customer and added … Read more

Foxconn to employees: Hey, you should join the union

Foxconn Technology Group is implementing a plan to increase employee participation in its labor union, the company said today in a statement obtained by CNET.

"As a part of efforts to implement the Action Plan that was developed together with the Fair Labor Association (FLA) following the assessment they conducted in early 2012, Foxconn is introducing measures to enhance employee representation in the Foxconn Labor Union and to raise employees' awareness of the organization," the company wrote today in a statement.

Apple brought in the FLA last year to inspect Foxconn's facilities and determine if there were … Read more

Apple fires supplier after audit uncovers underage workers

Apple has severed its relationship with a China-based third-party labor supplier after discovering a conspiracy to employ dozens of underage workers there, Apple reported in its latest Supplier Responsibility report, which was released this evening.

The iPhone maker said it discovered the violations during an audit of the supplier, Guangdong Real Faith Pingzhou Electronics (PZ). In addition, Apple reported the labor agency that knowingly provided the child labor to PZ to local authorizes.

The agency, which allegedly conspired with the children's families to falsify age-verification documents, had its license suspended and was levied a fine.

"The children were … Read more

Workplace dispute roils Foxconn supplier in China

Foxconn Technology Group, the Taiwanese contract manufacturer that assembles products for Apple and several other tech giants, acknowledged a "workplace issue" at a factory in Fengcheng, China, run by one of its suppliers, Jiangxi Xin Hai Yang Precision Components Co.

A Hong Kong watchdog group -- Students and Scholars Against Corporate Misbehaviour, or SACOM -- called it a strike of more than 1,000 workers who took to the streets to demand better pay and dignity. While Foxconn did not disclose the products or components made at the factory, a Sacom representative said she believes workers there produce … Read more