Apple shares closed higher on Wednesday, fueled by the Federal Reserve’s unexpected interest rate cut and Foxconn’s continued progress in the electric vehicle market. The Fed’s move suggests a more aggressive easing approach, while Foxconn’s investment in EV production reinforces its commitment to becoming a major player in the industry.
Sharp has partnered with its parent company Foxconn to create the LDK+, a unique EV prototype that blends traditional car features with a versatile, room-like interior. This collaboration highlights Foxconn’s ambition to dominate the EV market and emphasizes the growing importance of cars as personal spaces in a future dominated by autonomous driving.
Foxconn chairman Young Liu’s visit to Tamil Nadu, where he was driven by the state’s industry minister, has sparked speculation about potential major investments, including a semiconductor plant. The visit, which included a detailed pitch about the state’s strengths and capabilities, suggests that Tamil Nadu is actively vying for Foxconn’s business.
Taiwanese tech giant Foxconn, a major supplier to Apple and other tech companies, has reported record revenue and earnings for the June quarter, fueled by strong growth in artificial intelligence (AI) server sales. The company, officially known as Hon Hai Precision Industry, expects this momentum to continue, forecasting significant growth in AI server revenue for the remainder of the year.
Following allegations of discrimination against married women at Foxconn’s Chennai factory, a labor investigation found no evidence supporting the claims. The Regional Labor Commissioner, after interviewing employees and examining records, concluded that there was no discrimination in hiring or promotion practices.
The National Human Rights Commission (NHRC) has issued notices to the Union Labour Ministry and the Tamil Nadu government concerning reports of gender discrimination in hiring practices at Foxconn’s iPhone assembly plant in Sriperumbudur. The commission is investigating allegations that Foxconn systematically excludes married women from employment, citing societal pressure and cultural issues. Foxconn has denied the allegations, stating that 25% of its new hires are married women and its safety protocols are non-discriminatory.
Foxconn, the Apple iPhone manufacturer, has refuted allegations of discrimination against married women at its India plant. The company clarified that 25% of its recent hires are married women and its metal-free policy is based on safety concerns and applies to all employees regardless of gender or religion.
The Indian government is investigating Foxconn, an Apple supplier, for allegedly discriminating against married women in hiring practices at its iPhone assembly facility in Chennai. The Ministry of Labour has demanded a report from the Tamil Nadu government after media reports surfaced about married women being excluded from employment. While Foxconn denies the allegations and claims to have hired married women in recent recruitment drives, multiple employees and former executives corroborate the claims of systematic exclusion based on marital status. The investigation highlights concerns about discriminatory hiring practices and the need for equal opportunities in the workplace.
Taiwanese tech giant Foxconn has reported a significant 72% increase in its net profit during the first three months of 2024, driven by growing demand for artificial intelligence (AI) technology. The positive financial outlook suggests a promising future for the company as it transitions towards becoming a comprehensive AI solutions provider.
