Latest news with #HonHaiPrecisionIndustry
India.com
25-05-2025
- Business
- India.com
Apple iPhone prices may come down as the THIS iPhone production company of China now plans to...
Apple iPhone price Good news for Apple users in India: In a significant good news for India amid the threats of US President Donald Trump forcing Apple to move out of its India business, Hon Hai Precision Industry, the main iPhone production company associated with Apple Inc., is reportedly planning to close its production in China. Instead, the Apple manufacturer is planning to expand its iPhone manufacturing unit in India. Here are all the details you need to know about the recent good news on Apple production in India. In the recent development, Taiwanese company has announced that it will be investing Rs 13000 crore in India to build a new plan plan in South India. As per the Taiwan Exchange Filing made by Hon Hai Precision Industry, the company wants that most of the iPhones sold in America should be Made in India. US President Trump threatens 25 pc penalties on Apple In a recent statement that shocked the world, US President Donald Trump threatened a 50 per cent tax on all imports from the European Union as well a 25 per cent tariff on Apple products unless iPhones are made in the United States of America, as per a report covered by IANS. 'The threats, delivered over social media, reflect Trump's ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs have yet to produce the trade deals he is seeking or the return of domestic manufacturing he has promised voters,' reported The Associated Press about the move. The Republican President said he wants to charge higher import taxes on goods from the EU than from China, Xinhua news agency reported. 'I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the US. Thank you for your attention to this matter!' Trump said. (With inputs from agencies)
Time of India
20-05-2025
- Business
- Time of India
GenAI, robotics may allow countries to 'fill void' of immigrant labour: Foxconn's Young Liu
The combination of generative artificial intelligence (GenAI) and robotics may allow governments to "fill the void" of immigrant labour, said the chief executive officer (CEO) of Hon Hai Precision Industry ( Foxconn ) on Tuesday. 'Most people want a high-paid job. But no one will be interested in a low-paying job. So the countries are eventually going to outsource such jobs to other low-GDP countries. Eventually, you will hit a limit,' said Young Liu , chairman & CEO of Foxconn, at the Computex 2025 event. 'Another way to solve that problem is to import people from the low-GDP country, similar to what has happened in Europe, the US, Japan, and now in Taiwan . But that creates some social problems. So we see a great potential of GenAI and robotics filling the void (of entry-level or immigrant workers),' he added. Foxconn joins a long list of companies fanning the fears that AI could replace or eliminate entry-level jobs at a wider-than-anticipated scale. According to the technology sector layoff tracker – – more than 50,000 tech employees have been laid off in 2025 so far, with over half of the jobs slashed across 26 firms in April alone, including Google, Microsoft, Amazon, and others. According to a survey by the World Economic Forum (WEF), 40% of employers expect to reduce their workforce where AI can automate tasks. 'Technology, overall, is projected to be the most disruptive force in the labour market, with trends in AI and information processing technology expected to create 11 million jobs, while simultaneously displacing 9 million others,' the NGO and think tank said in a recent report. Meanwhile, consultancy services firm PwC said last year that there is a 27% lower hiring growth in the roles that are more exposed to AI. 'This finding lends credence to the observation that, instead of replacing jobs, AI appears to be ushering in a period of more gradual employment growth in the most exposed sectors,' PwC said. Though this may ease 'acute worries about job security' among employees, it added. According to the PwC study, managers will need to focus on upskilling their current workforce for an AI-enabled future. 'This includes creating development opportunities, building trust and boosting transparency on how AI will affect the workplace,' it added.
Business Times
05-05-2025
- Business
- Business Times
IPhone maker Hon Hai's April sales surge 26% ahead of US tariffs
[TAIPEI] Hon Hai Precision Industry, the main contract manufacturer for Apple and Nvidia, said its April revenue rose 26 per cent, likely boosted by the hastening of orders ahead of US tariffs that could upend business for its customers. Sales in April reached US$21.4 billion. That contributed to Hon Hai's best ever total for the first four months of the year, the company said on Monday (May 5), crediting 'strong pull-in momentum' for things like AI products. It came on the heels of a first quarter in which Apple and PC makers like Lenovo Group accelerated shipments to the US and other markets in order to stockpile inventory. Even with those preemptive measures, Hon Hai customers are expected to take a hit from US tariffs on China and elsewhere – on Thursday, Apple said during its quarterly earnings call that it expects US$900 million in higher costs from tariffs in the current period. Hon Hai, also known as Foxconn, said it anticipates both quarterly and year-on-year growth in the current quarter, cautioning that the impact of evolving global political and economic conditions will require close monitoring. It has scheduled its first-quarter earnings report and call for May 14. BLOOMBERG
Yahoo
24-04-2025
- Automotive
- Yahoo
Foxconn to launch first in-house EV for North America, Nikkei reports
Foxconn is readying its first passenger electric vehicle designed in-house for the North American market with an expected launch this year via an unspecified automaker, Nikkei Asia's Hideaki Ryugen reports, citing the company. The electronics giant, which designs and produces EVs for automakers on a contract basis, will bring its Model C SUV, currently supplied to a Taiwanese automaker, to North America with different specifications. Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on HNHPF: Disclaimer & DisclosureReport an Issue Hon Hai Expands with Acquisition of Sharp Fukuyama Laser Hon Hai Precision Industry Sells Equity in Shenzhen Hengdrive for Strategic Gains Hon Hai Precision Industry Expands Through Strategic Subsidiary Acquisitions AI Daily: Nvidia to make AI supercomputers in U.S. Nvidia to manufacture American-made AI supercomputers in U.S. for first time Sign in to access your portfolio
Yahoo
15-04-2025
- Business
- Yahoo
US futures jump after tech tariffs exemptions
US stock futures are up after the US announced tariff exemptions for many tech products. The exemptions relieve the tech sector from 145% tariffs on Chinese imports. Trump warned the tariff exemptions are temporary, causing investor confusion. US futures stock futures are higher after the US announced tariff exemptions for many tech products. Here's where US stock futures stand at 8:30 a.m. ET Monday: S&P 500 futures: +1.4% at 5,465 Dow Jones futures: +0.9% at 40,754 Nasdaq 100 futures: +1.7% at 19,125 On Friday, the US Customs and Border Protection published a list of tech categories exempt from the huge tariffs levied against China. They include smartphones, computers, and chip-making equipment. The news was a huge relief for the tech sector, which had been hit with 145% tariffs against China. The goods are still subject to 20% tariffs. Markets in Asia were boosted by the news, with tech stocks up sharply. Apple manufacturing partner Hon Hai Precision Industry — also known as Foxconn — surged 9% by the close. South Korean electronics components maker LG Innotek — another Apple supply chain partner — gained 6%. In Hong Kong, PC maker Lenovo closed 3% higher. Despite the optimism, President Donald Trump warned in a Sunday Truth Social post that tech-related tariff exemptions are short-lived. "There was no Tariff 'exception' announced on Friday," Trump wrote. "These products are subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff 'bucket.'" Commerce Secretary Howard Lutnick also told ABC News on Sunday that the reprieve is temporary and the tech products would face a national security probe. The changing policies from Trump's administration are creating confusion for investors, analysts at Jefferies wrote in a Sunday note. They wrote that Trump's policy change likely stems from the tumult in the financial markets and lobbying by large US companies. Trump is trying to balance "taming marketturbulence but still achieving his objective to re-establish the US industrial base," they wrote. "We do not rule out that the Trump Administration is also in an urgent need to salvage its policy credibility, by telling the world that its 'vision' has not changed, and new policies will come to achievethat objective," the analysts wrote. Read the original article on Business Insider Sign in to access your portfolio
