Apple’s major supplier, Foxconn, has reported a 10% drop in profits for the latest quarter compared to the previous year, according to an earnings call led by the company’s chair, Liu Young-way from Reuters. The decline was attributed to inflation and a slowing global economy. While the company expects significant growth in most areas, it…
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Apple and Foxconn, its primary manufacturing partner, played a significant role in the liberalization of labor laws in the southern Indian state of Karnataka. The landmark legislation permits two-shift production, a practice similar to that in China, where the two companies have their primary manufacturing base. The law has provided Karnataka with one of the…
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Foxconn, one of Apple’s manufacturing partners, is planning to invest $700 million in a new plant in Bengaluru, India, in an effort to reduce its reliance on China. The Taiwanese company has factories across mainland China and Taiwan, but with increasing tensions between the US and China, many companies in Apple’s supply chain are seeking…