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Terry Gou to step back from ‘front line’ at iPhone assembler Foxconn as it expands into India, AI

Terry Gou Tai-ming, the billionaire founder and chairman of iPhone assembler Foxconn Technology Group, plans to step back from day-to-day operations, making room for younger management to run the world’s largest electronics contract manufacturer.A spokesman for Foxconn, formally known as Hon Hai Precision Industry, said Gou aims to sharpen his focus on the company’s strategic direction, denying earlier reports that he aims to resign or retire.“I’m already 69 years old. I hope to pass down my 45… Source link

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Terry Gou accuses Microsoft of ‘scapegoating’ iPhone assembler Hon Hai, bullying Taiwanese companies and taking advantage of US-China trade war

Billionaire Terry Gou accused Microsoft of being a coward and a bully after the US software giant took legal action against consumer electronics manufacturer Hon Hai for allegedly failing to comply with a patent-licensing agreement. Microsoft on Friday sued the Taiwanese company, which assembles iPhones for Apple, in California for failing to make royalty payments on time. Gou, who is chairman of Hon Hai, held a press briefing in Taipei on Tuesday, railed at the US tech giant, now… Source link

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iPhone maker distances itself from ‘unauthorised’ agency discriminating against China’s ethnic minorities

The world’s largest maker of iPhones has distanced itself from an “unauthorised” recruitment agency near its factory in Zhengzhou that was excluding ethnic minority jobseekers from applying for jobs.Foxconn, which employs around million workers in China, was alerted by an earlier investigation by the South China Morning Post to a sign inside Li Zhong Human Resources near its largest factory in China that it did not accept applications from workers from China’s Uygur and Tibetan minorities.China… Source link

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Foxconn, a tale of slashed salaries, disappearing benefits and mass resignations as iPhone orders dry up

It is a normal Saturday in Zhengzhou, the capital of central China’s Henan province. The sky over the factory complex is obscured with a choking smog. Under the hazy sunset, hordes of workers have started to walk out of the Foxconn production facility. The crowd thinned out quickly.But working conditions inside the world’s largest iPhone assembly plant are not normal, as weaker demand for the mobile phones assembled inside the vast 1.4 million square metre (15 million square feet) facility have… Source link

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Apple teams with Ant Financial, banks for interest-free iPhone financing in China

Apple has teamed up with Chinese payments giant Ant Financial Services Group and several local banks to offer interest-free financing, its first such move in the country as it looks to boost waning smartphone sales.The US tech behemoth issued a rare revenue warning last month citing weaker iPhone sales in China, one of its most important markets, where consumer spending has taken a hit due to a slowdown in economic growth.On its China website, Apple is promoting the new scheme, under which… Source link

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Chinese Apple suppliers’ shares climb after iPhone maker rebounds in New York trading

Shares of Apple’s suppliers in China climbed on Monday after the smartphone giant rebounded strongly from a 22-month low on January 3. Of the 21 Chinese companies that supply the iPhone maker, according to Bloomberg data, only one fell in early afternoon trading, while all four suppliers listed in Hong Kong were up. Apple isn’t having a crisis, but their market share is gradually being eroded by competitors Louis Tse Ming-kwong, managing director, VC Asset Management By Friday’s close in New York, Apple had soared by nearly 20 per cent…

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Apple’s top retail exec to leave amid iPhone sales slowdown

Apple’s top retail executive is stepping down amid a slowdown in iPhone sales that has raised doubts about the technology giant’s future growth prospects. The shake-up announced on Tuesday ends Angela Ahrendts’ five-year stint overseeing the company’s network of 506 Apple Stores and e-commerce operations. She will remain with Apple until April. Apple did not give a reason for Ahrendts’ departure, saying only that she was leaving “for new personal and professional opportunities”. She is being replaced by Deirdre O’Brien, a long-time Apple executive who also runs the company’s human…

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Analysts expect iPhone price cuts in China as Apple seeks to revive sales

Apple is expected to pursue iPhone price cuts in China and other markets, as the US technology giant suffered a decline in sales of its flagship product in the quarter ended December, according to analysts. Most of that decline was attributed by Apple to its Greater China business and other emerging markets, where a stronger US dollar amplified the price of iPhones in local currency terms. While Apple has not announced specific iPhone price adjustments in China, IHS Markit senior analyst Zaker Li said the US company has already pushed…

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Apple plans to cut back on hiring due to iPhone sales struggles

Apple Inc. will cut back on hiring for some divisions after selling fewer iPhones than expected and missing its revenue forecast for the holiday quarter, according to people familiar with the matter. Tim Cook, Apple’s chief executive officer, made the disclosure to employees earlier this month in a meeting the day after he penned a letter to investors about the company’s recent struggles, particularly in China. During the meeting, Cook was asked if the company would impose a hiring freeze in response. He said he did not believe that was…

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Qualcomm seeks iPhone import ban, stepping up patent fight

Qualcomm Inc. persuaded a US trade agency to consider banning imports of Apple Inc. iPhones that use Intel Corp. chips, though the agency appeared to be grappling with ways to forge a compromise that would protect America’s dominance in the next generation of phone technology. The US International Trade Commission said Wednesday it would take a closer look at a recommendation by a judge in September that an import ban would hurt America’s competitive edge in the development of the next generation of mobile technology, known as 5G. It also…

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