Apple supplier Foxconn signals deep cuts as iPhone demand wanes

Bradley Prior

MyBroadband Journalist
Super Moderator
Joined
Oct 16, 2018
Messages
1,807
Apple supplier Foxconn signals deep cuts as iPhone demand wanes

Foxconn Technology Group, the biggest assembler of iPhones, became the latest Apple Inc. supplier to warn of anemic demand, with an internal memo suggesting that expenses will be cut by almost a half next year.

The contract manufacturer aims to cut 20 billion yuan ($2.9 billion) from expenses in 2019 as it faces “a very difficult and competitive year,” according to an internal document obtained by Bloomberg. [Bloomberg]
 
Top