BeQuiet Jubiläum Banner 970x90
Breaking News

Ultimate Ears Launches New Editions of Award-Winning WONDERBOOM and HYPERBOOM Speakers Reach New Levels of Total Immersion with Logitech Chorus for Meta Quest 2 Lucky number Android 13: The latest features and updates CORSAIR Ushers in the New Era of AMD with Support for AMD Ryzen 7000 CPUs TEAMGROUP Announces MP44L M.2 PCIe 4.0 SSD with the Industry's First Heat Dissipating Graphene SSD Label for an Upgraded Cooling Performance

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Foxconn to Cut Costs in 2019, Adding Gloom Surrounding Demand for iPhones

Foxconn to Cut Costs in 2019, Adding Gloom Surrounding Demand for iPhones

Enterprise & IT Nov 21,2018 0

Apple Inc’s biggest iPhone assembler Foxconn is seeking to cut 20 billion yuan ($2.88 billion) from expenses in 2019 as the company faces "a very difficult and competitive year", Bloomberg reported on Wednesday.

The iPhone business will need to reduce expenses by 6 billion yuan next year and the company plans to eliminate about 10 percent of non-technical staff, according to an internal memo obtained by Bloomberg. The company’s spending in the past 12 months is about NT$206 billion.

The Taiwan-based producer said in a statement it was conducting a regular annual review to budget effectively for 2019, but it was also the latest to point to concerns over demand for Apple’s flagship devices.

Earlier this month, Apple announced a lower-than-expected sales forecast for the Christmas quarter that jolted parts suppliers across the world.

iPhone component suppliers including U.S. chipmaker Lumentum and Japan Display have already cut forecasts following warnings from financial advisors.

Foxconn said it regularly reviews its operations to reallocate resources across its operations.

Nikkei daily reported earlier this month that Apple had told Foxconn and rival Pegatron Corp to halt plans for additional production lines dedicated to the iPhone XR.

Analysts estimate that Apple cut orders to its Taiwanese suppliers by 20-30 percent earlier in November, mainly because of weak demand for the iPhone XR and XS Max.

Apple has adjusted its strategy as growth in the number of smartphones sold each year has slowed. It can charge higher prices for each handset and pull in more money from services, including digital videos, streaming music and data storage.

Tags: Hon Hai/Foxconn Technology GroupiPhone XSiPhone XS MaxApple
Previous Post
Facebook's Black Friday Deals on Oculus Rift and Go VR Are Anemic
Next Post
Happy Shopping But Beware of Phishing

Related Posts

  • Apple releases tvOS 16 public beta

  • All-new MacBook Air with M2 available to order starting Friday, July 8

  • 13-inch MacBook Pro with M2 available to order starting Friday, June 17

  • Apple unveils all-new MacBook Air and updated 13-inch MacBook Pro

  • Apple announces iPadOS 16, watchOS 9 and macOS Ventura

  • Apple, Google, and Microsoft commit to expanded support for FIDO standard

  • Apple Reports Second Quarter Results

  • Apple’s Self Service Repair now available

BeQuiet Jubiläum Banner 300x600

 

Latest News

Ultimate Ears Launches New Editions of Award-Winning WONDERBOOM and HYPERBOOM Speakers
Consumer Electronics

Ultimate Ears Launches New Editions of Award-Winning WONDERBOOM and HYPERBOOM Speakers

Reach New Levels of Total Immersion with Logitech Chorus for Meta Quest 2
Consumer Electronics

Reach New Levels of Total Immersion with Logitech Chorus for Meta Quest 2

Lucky number Android 13: The latest features and updates
Consumer Electronics

Lucky number Android 13: The latest features and updates

CORSAIR Ushers in the New Era of AMD with Support for AMD Ryzen 7000 CPUs
PC components

CORSAIR Ushers in the New Era of AMD with Support for AMD Ryzen 7000 CPUs

TEAMGROUP Announces MP44L M.2 PCIe 4.0 SSD with the Industry's First Heat Dissipating Graphene SSD Label for an Upgraded Cooling Performance
PC components

TEAMGROUP Announces MP44L M.2 PCIe 4.0 SSD with the Industry's First Heat Dissipating Graphene SSD Label for an Upgraded Cooling Performance

Popular Reviews

CeBIT 2005

CeBIT 2005

CeBIT 2006

CeBIT 2006

Zidoo Z9S 4K Media Player review

Zidoo Z9S 4K Media Player review

LiteOn iHBS112 review

LiteOn iHBS112 review

Club3D HD3850

Club3D HD3850

External USB Slim Recorders Comparison

External USB Slim Recorders Comparison

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Crucial P1 NVMe 1TB SSD review

Crucial P1 NVMe 1TB SSD review

Main menu

  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed