Huh? Apple (AAPL) Manufacturer Foxconn Seeks To Stop Worker Suicide By Firing Them
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BUY (= Flat)
Dividend Yield: 2.7%
Revenue Growth %: +11.2%
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Apple (Nasdaq: AAPL) product manufacturer Foxconn is aiming to curb the recent suicide trends at its mainland China facilities the old fashioned way...by replacing humans with robots.
According to Chinese English-language paper Xinhua, Foxconn will increase its robot force to one million over the next three-years. The company currently has 10,000 robots.
The robots will do simple and routine tasks like spraying, welding and assembling. This work is currently being done by humans.
The announcement was made late Friday from founder and Chairman Terry Gou.
Foxconn currently employs 1.2 million, with one million based on the Chinese mainland.
In addition to Apple, Foxconn also manufactures for a variety of other consumer electronics companies like Sony (NYSE: SNE) and Nokia (NYSE: NOK). It's not clear how Foxconn's switch will affect its customers and pricing in the near-term, but should provide a long-term benefit.
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According to Chinese English-language paper Xinhua, Foxconn will increase its robot force to one million over the next three-years. The company currently has 10,000 robots.
The robots will do simple and routine tasks like spraying, welding and assembling. This work is currently being done by humans.
The announcement was made late Friday from founder and Chairman Terry Gou.
Foxconn currently employs 1.2 million, with one million based on the Chinese mainland.
In addition to Apple, Foxconn also manufactures for a variety of other consumer electronics companies like Sony (NYSE: SNE) and Nokia (NYSE: NOK). It's not clear how Foxconn's switch will affect its customers and pricing in the near-term, but should provide a long-term benefit.
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