Tag Archives: Foxconn

Apple Finds Foxconn Interns Worked Illegal Overtime on iPhone X

Apple found that its main supplier in Asia has been employing high-school students working illegal overtime to assemble the iPhone X. Interns at a factory operated by Hon Hai Precision Industry Co., part of Taiwan’s Foxconn Technology Group, worked voluntarily and received benefits, though worked longer days than Chinese law permits, Apple said in a statement. The Financial Times reported earlier Tuesday that a… Read More »

iPhone X Production Costs See Foxconn Profit Fall

Taiwanese tech giant Foxconn said Tuesday its third-quarter profit dropped by more than a third, dragged by costs associated with producing the latest iPhone model. Also known as Hon Hai, the firm is the world’s biggest contract electronics maker and assembles Apple’s iPhones. Its net income in July-September fell 39.3 percent from a year earlier to TWD 21 billion ($696… Read More »

Sharp, Foxconn to sign deal next week – sources

Sharp Corp (6753.T) and Taiwan’s Foxconn are set to sign a takeover deal next week after repeated delays, with the two sides set to agree on a smaller bailout than originally planned for the troubled Japanese electronics maker, two sources familiar with the talks said on Saturday. The two companies will hold board meetings on Wednesday to approve… Read More »

Foxconn Postpones Sharp Agreement to Digest ‘New Information’

Taiwan’s Foxconn Technology Group won a board vote to take control of struggling Japanese electronics maker Sharp Corp. but then said it would postpone signing a definitive agreement because of “new material information.” Under an agreement announced by Sharp, Foxconn, the parent of Hon Hai Precision Industry Co., would control 65.9 percent of Sharp after buying new shares… Read More »

Sharp, Foxconn Chiefs to Meet After Takeover Deal Put on Hold: Report

The chief executives of Sharp Corp and Foxconn plan to meet on Friday in China, a person familiar with the matter said, a day after the world’s largest contract maker of electronic goods put its takeover of the Japanese firm on hold. Shares in Sharp slid 11 percent on Friday after sources said previously undisclosed liabilities were responsible… Read More »

Sharp’s Liabilities Said to Be Reason for Foxconn Reversal

Sharp’s shares dived nearly 15 percent on Friday, after the Taiwanese multinational that owns Foxconn said it would delay its multi-billion-dollar takeover to review new information it had received about the ailing Japanese giant. Analysts had cheered Hon Hai Precision’s bid for Sharp – the first overseas acquisition of a major Japanese electronics firm – which has teetered… Read More »