Apple, Nokia, Microsoft and SE all facing higher Foxconn bills

Oct 13, 2010
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Foxconn is expected to begin charging Apple and other customers higher prices for manufacturing their smartphones and other electronics, in a move which is being seen as offsetting the company's increased wage obligations.  The company, a subsidiary of Hon Hai Industries, made promises earlier in the year to increase the amount it paid employees and hopefully turn around a spate of reputation-damaging suicides.

According to Citibank analyst Chang Kaiwei, Nokia, Microsoft and Sony Ericsson should all expect bigger bills from Foxconn in the near future.  However the company isn't exactly failing as it is; profits are simply expected to get bigger in Q4 2010 thanks to the increase in costs, and Citi expect a 30-percent sales growth in 2011 from 2010.

[via CrunchGear]


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