Saturday, May 18, 2024
HomeWorld NewsUnited States NewsFoxconn, Apple's largest supplier, is now wrapped up in iPhone supply chain...

Foxconn, Apple’s largest supplier, is now wrapped up in iPhone supply chain rumors

105369232 1533155163089gettyimages

Foxconn, the company that assembles most of Apple’s iPhones, is now wrapped up in the latest round of iPhone supply chain rumors after a Bloomberg report that the manufacturer is cutting costs ahead of a “very difficult and competitive year.”

Foxconn is preparing to cut expenses in its iPhone assembly unit and to cut workforce, Bloomberg reported Wednesday, citing an internal memo.

Last week, at least four Apple suppliers cut their revenue forecasts citing reduced orders from large customers. Foxconn isn’t doing exactly that, but worries out of Apple’s top supplier will only add to ongoing speculation of weaker iPhone sales.

“The review being carried out by our team this year is no different than similar exercises carried out in past years to ensure that we enter into each new year with teams and budgets that are aligned with the current and anticipated needs of our customers, our global operations and the market and economic challenges of the next year or two,” Foxconn said in a statement to CNBC.

Shares of Apple traded roughly 1 percent higher premarket Wednesday, making up for some painful losses last week.

More Related Articles


Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

5 Days Trending

We use cookies to ensure that we give you the best experience on our website.