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The Latest Breaking News from Foxconn

Why Lordstown Motors Shares Are Sliding Today

Lordstown Motors Corp (NASDAQ:RIDE) reported a first-quarter FY22 loss per share of $(0.46), in line with the consensus of $(0.46) and against a loss of $(0.72) last year. The total operating expenses declined 17.3% Y/Y to $87.9 million. The operating loss incurred for the quarter was $(87.88) million versus $(106.21) million last…

Benzinga

Beijing steps up COVID curbs as virus spreads in China

Beijing shut scores of metro stations and bus routes and extended COVID-19 curbs on many public venues on Wednesday, focusing efforts to avoid the fate of Shanghai, where millions have been under strict lockdown for more than a month.

Reuters

Lordstown, Foxconn Postponed Ohio Factory Sale Deadline

Lordstown Motors Corp (NASDAQ:RIDE) agreed to push back the deadline to sell its Ohio factory to Hon Hai Precision Industry Co Ltd (OTC:HNHPF), operating as Foxconn, Bloomberg reports. The struggling EV startup needs to repay Foxconn if the deal does not close by May 14. Foxconn acknowledged that the two sides were still negotiating…

Benzinga

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Apple Partner Starts Assembing Only iPhone 13 In Brazil: Is It The End Of The Line For This Budget Model?

Apple Inc (NASDAQ: AAPL) manufacturing partner Hon Hai Precision Industry Co., Ltd’s (OTC: HNHPF), better known as Foxconn, is now solely making iPhone 13

Benzinga

India Tries To Attract Intel, TSMC, GlobalFoundries To Set Up Local Plant

India is in talks with global chipmakers Intel Corp (NASDAQ:INTC), GlobalFoundries Inc (NASDAQ:GFS), and Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) about setting up local operations, Bloomberg reports. India aspires to become an electronic hub like neighbor China, Bloomberg notes. In India, a venture between billionaire Anil Agarwal’s Vedanta Group and Apple Inc (NASDAQ:AAPL) supplier Hon Hai Precision Industry Co Ltd (OTC:HNHPF),…

Benzinga

Apple supplier suspends production at two China factories

Operations halted at factories in eastern China’s Kunshan after COVID-19 cases reported.

Al Jazeera

More Chinese cities tighten controls as Shanghai COVID cases rise

Shanghai reported a record number of symptomatic COVID-19 cases on Saturday and other areas across China tightened controls as the country kept up its "dynamic clearance" approach that aims to stamp out the highly transmissible Omicron variant.

Reuters

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Apple, Others Face Shipment Delays as China COVID Curbs Squeeze Suppliers, Say Analysts

Shipments of some Apple products, as well as Dell and Lenovo laptops are likely to face delays if China's COVID-19 lockdowns persist, analysts said, as curbs force assemblers to shut down and closed-loop arrangements get harder to maintain. China's race to stop the spread of COVID-19 has jammed highways and…

Asharq Al-Awsat

Stellantis, Qualcomm Partner To Power Vehicle Platforms With Snapdragon Digital Chassis Solutions

Stellantis NV (NYSE:STLA) and Qualcomm Inc (NASDAQ:QCOM) forged a multi-year technology collaboration. The financial terms of the arrangement were not disclosed. The alliance will help Stellantis merge all software domains into High-Performance Computers, leveraging the high-performance, low-power Snapdragon Automotive Platforms across all significant vehicle domains. The companies look to utilize the latest Snapdragon Digital Chassis…

Benzinga

Apple Begins Manufacturing iPhone In India, Marking Setback For China

Apple Inc (NASDAQ:AAPL) has started manufacturing the iPhone 13 in India, Reuters reports. Apple produced the iPhone at a local plant of Apple's Taiwanese contract manufacturer Hon Hai Precision Industry Co Ltd (OTC:HNHAF), operating as Foxconn in Sriperumbudur in Southern Tamil Nadu. Also Read: China's Smartphone Shipment Plunges By 32% In February, Here's Why Apple Could…

Benzinga

Apple Starts Manufacturing iPhone 13 in India

Apple Inc has started making the iPhone 13 in India, the company said on Monday, as the US tech giant tries to reduce reliance on its Chinese supply chain. The phone is being produced at a local plant of Apple's Taiwanese contract manufacturer Foxconn, situated in the town of Sriperumbudur…

Asharq Al-Awsat

Apple starts production of flagship iPhone 13 at Foxconn plant near Chennai

It will have ‘beautiful design, advanced camera systems’, says the company

The Hindu

Semiconductor dream needs the right push

CM has urged Samsung to open a semiconductor manufacturing unit in the State

The Hindu

Apple's Key Supplier Resumes Partial Operation At Shenzhen Campuses

Apple Inc (NASDAQ:AAPL) supplier Hon Hai Precision Industry Co Ltd (OTC: HNHPF), also known as Foxconn, resumed partial operations and production at its two Shenzhen campuses, one of which makes iPhones, after assuming Covid measures, Bloomberg reports. Foxconn had suspended operations after Shenzhen imposed a city-wide lockdown, including its Guanlan factory. Foxconn has resumed some production at…

Benzinga

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Bangkok Post

Foxconn in Talks to Build $9 Billion Factory in Saudi Arabia

Foxconn Technology Group, the biggest assembler of Apple Inc. iPhones, is in talks with Saudi Arabia about jointly building a $9 billion multipurpose facility that could make microchips, electric-vehicle components and other electronics like displays, according to people familiar with the matter.

Benzinga

This Apple Supplier Is Said To Be Planning A $9B Factory In Saudi Arabia To Make Chips, EV Parts

Apple Inc (NASDAQ: AAPL) supplier Hon Hai Precision Industry Co Ltd’s (OTC: HNHPF) is in talks with Saudi Arabia to jointly build a $9 billion multipurpose facility, The Wall Street Journa

Evening Standard

Apple suffers iPhone blow as Shenzen Covid lockdown shuts Foxconn factory

Two factories owned by Foxconn, which makes iPhones in China, have had to close as part of a widespread lockdown in the Chinese city of Shenzen.

Asharq Al-Awsat

Chinese Cities and Factories Lock Down as Outbreak Spreads

Seventeen million people in the Chinese tech hub of Shenzhen began their first full day under lockdown Monday, as a key factory making iPhones closed and restrictions spread across Shanghai and other major cities in an effort to extinguish the biggest-ever threat to the nation's zero-tolerance Covid strategy. The southern…

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Benzinga

Foxconn, Luxshare Could Produce Apple Car, Speculation Suggests

Apple Inc (NASDAQ: AAPL) suppliers Hon Hai Precision Industry Co Ltd (OTC: HNHPF) or Foxconn and Luxshare Precision are possible candidates to produce the rumored Apple Car <

InsideEVs

GM Dumped Lordstown Motors Stock In The Fourth Quarter Of 2021

GM says the only reason it bought Lordstown stock in the first place was to allow the EV startup to complete the purchase of the plant and restart production.

Benzinga

Lordstown Motors Stock Slides Post Q4 Results; Reaffirms Q3'22 Target For Endurance Sales

Lordstown Motors Corp (NASDAQ:RIDE) reported a fourth-quarter FY21 loss per share of $(0.42), beating the consensus of $(0.73). The total operating expenses rose 120.7% Y/Y to $84.6 million. The operating loss incurred for the quarter was $(84.66) million versus $(38.35) million last year. The company held $244 million in cash and equivalents…

Tribune News Service

Lordstown Motors and its post-SPAC peers keep losing executives

The past month has been a rough one for some of the electric vehicle startups that went public by merging with special purpose acquisition companies, or SPACs. Lordstown Motors, Canoo and Electric Last Mile Solutions all have seen key personnel leave, and all three are under investigation by the U.S.…

Benzinga

Apple's iPhone Supplier Foxconn Hints At Improvement In Supply Chain Challenges: Report

Supply chain challenges that have hurt multiple industries for over a year now may have started improving. Apple, Inc.'s iPhone assembler Hon Hai Precision Industry Co., Ltd.

The Guardian - UK

Alexa whistleblower demands Amazon apology after being jailed and tortured

Tang Mingfang is willing to risk reprisals to clear his name over Foxconn revelations – and to get backing from Jeff Bezos

InsideEVs

Foxconn: Lordstown Electric Pickups To Start Shipping In H2 2022

Foxconn chairman Young Liu tells Nikkei Asia that electric pickups made in cooperation with Lordstown Motors will begin shipping in the second half of 2022.

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