Foxconn hires 50,000 Chinese workers to boost production for iPhone 16: report
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- Foxconn (OTCPK:FXCOF) recently hired 50,000 new employees for its factory in Zhengzhou, China, to boost production for Apple’s upcoming iPhone 16, according to a report by Business Korea.
- Foxconn’s Zhengzhou factory is the world’s most prolific production base for the iPhone, the report said.
- Taiwan-based Foxconn builds approximately two out of every three iPhones, in addition to other devices such as the Google (GOOG)(GOOGL) Pixel and Sony (SONY) PlayStation, according to Bloomberg.
- Apple looks to ship millions more iPhones than previously expected when the product is launched sometime next month. Wedbush now predicts initial iPhone 16 shipments will approach 90M, versus earlier estimates ranging from 80M to 84M units.
- Despite geopolitical concerns over China, Apple remains committed to doing business there. Last month, Apple’s Chief Operating Officer Jeff Williams visited political leaders in Shenzhen to reinforce the importance of the PRC for its products.