S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Consumer Electronics

Apple Starts Foxconn Investigation

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Plagued by bad public relations, and online petitions about how the labor at its suppliers in China is treated, Apple (NASDAQ: AAPL) started an investigation into huge supplier Foxconn. It is not clear where Apple could move its parts and assembly capacity because of Foxconn’s size, the logistics of the US firm’s supply chain, and the potential rise in costs of goods sold for the iPhone and iPad. Apple sold 37 million iPhones in the last quarter

Apple

announced that the Fair Labor Association will conduct special voluntary audits of Apple’s final assembly suppliers, including Foxconn factories in Shenzhen and Chengdu, China, at Apple’s request. A team of labor rights experts led by FLA president Auret van Heerden began the first inspections Monday morning at the facility in Shenzhen known as Foxconn City.

FLA will do independent interviews of a large number of Foxconn employees.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Do You Know Where Your iPhone Came From? This Is What It Takes to Put Technology in Your Pocket
Aaron Webber |

Do You Know Where Your iPhone Came From? This Is What It Takes to Put Technology in Your Pocket

It’s no secret that massive amounts of human suffering and even death go into the creation of the iPhone, but…

Apple Supports 4.8 Million Jobs in China, More Than Double US Total
Paul Ausick |

Apple Supports 4.8 Million Jobs in China, More Than Double US Total

Apple claims it has created and supported some 4.8 million jobs in China. That's more than twice as many as…

Steven M. Peters |

WSJ: Foxconn may make iPhones in India

Wait, not in Wisconsin? What will the President tweet?

Paul Ausick |

Apple Blasted Again for Labor Practices in China

courtesy of AppleApple Inc. (NASDAQ: AAPL) is about to be pilloried again for “ethical and legal” labor violations at the…

Apple’s iPhone Sales Catastrophes Mount
Douglas A. McIntyre |

Apple’s iPhone Sales Catastrophes Mount

Apple is the leader in smartphone sales in the world by a large margin. Samsung is its only major competitor.…

Paul Ausick |

Apple Supplier Foxconn Forecasts Strong Q1 Results

Apple's largest supplier of iPhones is projecting a revenue increase of 15% in the March quarter.

Steven M. Peters |

Nikkei’s iPhone XR production stand-down report: Here we go again

Could be real. Could be FUD. With Nikkei Asian Review you never know.

What’s Up With Apple: Still #1 in China, AirTags Still a Gift to Criminals, and More
Paul Ausick |

What’s Up With Apple: Still #1 in China, AirTags Still a Gift to Criminals, and More

For the second consecutive month, Apple has captured the highest market share in China. The company's November share rose by…

What Happens to Apple When China iPhone Sales Plunge?
Douglas A. McIntyre |

What Happens to Apple When China iPhone Sales Plunge?

The lack of iPhone buyers across a part of China that has tens of millions of people, due to a…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820