BeQuiet Jubiläum Banner 970x90
Breaking News

Envision Enhances Its Range of Smart Glasses For Blind and Low-Vision Communities - Making Them More Accessible For Everyone ASUS Announces All-New Vivobook Go 15 OLED and Vivobook Go 14 Pioneer Japan updates firmware for their X13 lineup (30-01-2023) DLSS 3 Delivers Ultimate Boost in Latest Game Updates on GeForce NOW DualSense Edge wireless controller launches globally today

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • 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 introduces the new HomePod with breakthrough sound and intelligence

  • Apple announces new M2 Pro and M2 Max, new Mac mini and MacBook Pro featuring M2 Pro and M2 Max

  • Apple advances user security with powerful new data protections

  • Apple introduces Apple Music Sing

  • Apple launches Self Service Repair in Europe

  • 5 Amazing Benefits of Selling Your Used Electronics

  • Reach new depths with the Oceanic+ app and Apple Watch Ultra

  • Emergency SOS via satellite on iPhone 14 and iPhone 14 Pro lineups made possible by $450 million Apple investment in US infrastructure

BeQuiet Jubiläum Banner 300x600

 

Latest News

Envision Enhances Its Range of Smart Glasses For Blind and Low-Vision Communities - Making Them More Accessible For Everyone
Enterprise & IT

Envision Enhances Its Range of Smart Glasses For Blind and Low-Vision Communities - Making Them More Accessible For Everyone

ASUS Announces All-New Vivobook Go 15 OLED and Vivobook Go 14
Enterprise & IT

ASUS Announces All-New Vivobook Go 15 OLED and Vivobook Go 14

Pioneer Japan updates firmware for their X13 lineup (30-01-2023)
Optical Storage

Pioneer Japan updates firmware for their X13 lineup (30-01-2023)

DLSS 3 Delivers Ultimate Boost in Latest Game Updates on GeForce NOW
GPUs

DLSS 3 Delivers Ultimate Boost in Latest Game Updates on GeForce NOW

DualSense Edge wireless controller launches globally today
Gaming

DualSense Edge wireless controller launches globally today

Popular Reviews

Withings Thermo Wi-Fi-connected temporal thermometer

Withings Thermo Wi-Fi-connected temporal thermometer

EnGenius ECW230 Access Point

EnGenius ECW230 Access Point

Withings Body Plus Scale

Withings Body Plus Scale

Withings Sleep Analyzer

Withings Sleep Analyzer

Noctua NH-D12L CPU Cooler

Noctua NH-D12L CPU Cooler

EnGenius ECW230S AP

EnGenius ECW230S AP

Scythe Fuma 2 CPU Cooler

Scythe Fuma 2 CPU Cooler

be quiet! Pure Rock 2 FX

be quiet! Pure Rock 2 FX

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • 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