Tag - Hon Hai
Hon Hai -- better known as Foxconn -- is preparing to hire some 100,000 people in mainland China to help manufacture new iPhones, says Taiwan's Economic Daily News. The effort is described as the company's largest-ever Chinese hiring spree. Another major Apple supplier, Pegatron, is meanwhile said to be boosting labor at a mainland factory by 30 percent for the sake of iPhone production. Foxconn is expected to handle 70 percent of orders, while Pegatron will deal with the remainder.
Taiwan-based manufacturer Hon Hai -- better known as Foxconn -- saw its profits rise 13 percent last year to $3.5 billion, something attributed mainly to record iPhone and iPad sales, according to the Wall Street Journal. Foxconn is closely linked to Apple, deriving over 40 percent of its revenue from Apple orders. As such, any fluctuation in iPhone and iPad sales can dramatically affect its income.
Apple has published its eighth Supplier Responsibility report, based on data including 451 audits of its suppliers. The company claims a 95 percent compliance with the maximum 60-hour work week in its Supplier Code, a slightly improvement from 92 percent a year ago. Notably, Apple says it is now keeping a closer watch on where suppliers pull minerals from, in a bid to avoid "conflict" minerals -- minerals from regions where their sale may be used to fund ongoing wars. In particular, the Apple is focused on the Democratic Republic of the Congo.
At leas a dozen current and former senior managers at Foxconn have been arrested for accepting bribes from iPhone parts suppliers, according to Tencent. The scheme is alleged to have originated with the company's retired senior VP, Liao Wancheng (pictured). Suppliers were made to pay 2.5 percent of their sales in kickbacks, as well as additional bribes for each new order. The people receiving the cash are said to have reaped "hundreds of millions" in Taiwanese dollars.
Foxconn – also known as Hon Hai, assembler of Apple's iPhones and iPads – is looking to capitalize on the anticipated boom in wearable tech by starting an investment fund to finance nascent companies working in the segment. Sources familiar with the project told Bloomberg this week that Syntrend Creative Park Co., a Foxconn unit, will administer the NT$200 million ($6.8 million) fund aimed at giving the firm a hand in the development of wearable devices in the vein of Samsung's Galaxy Gear smartwatch, the Google Glass eyewear computer, and the suspected Apple iWatch. The move is the latest by Foxconn to diversify its operations to handle more things than the construction of iOS devices for its most lucrative partner.
Hon Hai Precision Industry, perhaps better known as the parent company of Foxconn, claims that it has sold Google a large swath of augmented reality patents. The patents cover a computer-generated image superimposed over a static or moving real-world image, and that the technique is commonly used in aviation, gaming, and training. No financial details of the deal are known.
Apple has asked is main manufacturing partner, Hon Hai -- better known as Foxconn -- to start shipping new high-end and low-end iPhone models early next month, according to sources for the Wall Street Journal. Suppliers are said to have started parts production back in June. The sources don't have many details about the low-end phone, but do remark that the flagship device will have a metal casing and the same size and resolution as the iPhone 5.
Hon Hai, better known as Foxconn, posted a 41 percent year-over-year increase in net profits during its second quarter, according to the Wall Street Journal. Net profits for Q2 2013 were NT$16.98 billion, or about $566.7 million US. In the same quarter of 2012, profits were NT$12.06 billion. The average forecast for this year had been NT$16.32 billion.
Hon Hai -- better known under its Foxconn brand -- has demonstrated a first-party smartwatch, reports say. The device can connect wirelessly to an iPhone, and display notifications for incoming phone calls and Facebook posts. Like some other smartwatches, it can monitor health signs like heartbeat and respiration, but with the bonus of tips on getting fitness up to par.
Apple is considering a range of possible options for expanding its iPhone lineup in 2014, say four sources for Reuters, some of which are said to be with Asian suppliers. The people claim that Apple is considering two bigger iPhone sizes, including 4.7- and 5.7-inch dimensions. Suppliers have reportedly been approached with plans for the bigger screens, but whether or not they'll make it into shipping products is uncertain. "They constantly change product specifications almost to the final moment, so you're not really sure whether this is the final prototype," one source says.