Foxconn, the Taiwanese supplier for Apple Inc., reported a significant boost in profit margins during the third quarter, marking a quarterly record high since 2017. The company is also emphasizing its transition to a platform solution provider, focusing on smart cities, smart manufacturing, and electric vehicles, fueled by artificial intelligence development.
Taiwanese tech giant Foxconn, a key Apple supplier, is further strengthening its presence in Vietnam with an $80 million investment in a new integrated circuit plant. This move underscores the growing importance of Vietnam as a manufacturing hub for electronics and highlights Foxconn’s commitment to diversifying its production base.
Apple has initiated early manufacturing efforts for the upcoming iPhone 17 in India, a first for the tech giant. This move, involving the ‘new product introduction’ (NPI) phase, marks a significant shift away from China as Apple seeks to diversify its production base and reduce dependence on a single location. The decision comes amidst growing geopolitical tensions between the US and China.
Taiwanese tech giant Foxconn is set to construct the world’s largest manufacturing facility for Nvidia’s powerful GB200 chip, aimed at meeting the skyrocketing demand for the company’s Blackwell platform, which is driving the AI revolution. The move highlights Foxconn’s commitment to the AI market and its ability to meet the challenges of producing high-performance AI chips.
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.
