Foxconn International Holdings Ltd. (FIH), announced today that for fiscal year 2012 the company had the biggest loss ever since it listed its stock in 2005. FIH, which says it is the world’s largest contract manufacturer of cellphones, booked a net loss of $316.4 million for the year.
Apple
Beats Gets $60 Million Investment in Daisy; And a Visit From Apple CEO
How big has Beats Electronics, LLC become? Big enough to warrant a visit by Apple, Inc. CEO Tim Cook to discuss a potential partnership in Beat’s new streaming music service tentatively code-named Daisy. And big enough to relatively easily obtain $60 million in financing from investors looking to help it get Daisy off the ground.
What’s that sound? An approaching Tyrannosaurus Rex? No, it’s Beats… [Read more…] about Beats Gets $60 Million Investment in Daisy; And a Visit From Apple CEO
Samsung Takes Significant Stake in Sharp Corp.
*STORY UPDATED BELOW* – FOXCONN ‘OFFENDED’
The Nikkei reported today that South Korea’s Samsung Electronics Company has agreed to invest ¥10 billion ($107 million) into former high-flying, now troubled Sharp Corporation as it continues to struggle to raise much-needed cash. According to the report, Sharp will issue the shares to Samsung possibly as early as this month.
The surprise announcement signifies that Samsung will have own significant share of Sharp… [Read more…] about Samsung Takes Significant Stake in Sharp Corp.
Apple Supplier Foxconn Halts Expansion and Freezes Hiring; Sign of iPhone Slump?
The Nikkei in China reported today that it has learned that key Apple, Inc. supplier Foxconn Technology Group (also known as Hon Hai Precision Industry Co.) has stopped plans to expand its production capacity at its large facility in Zhengzhou, China. This is the facility that assembles smartphones such as Apple’s iPhone5 and the news has set Wall Street buzzing that this is another sign of the waning dominance of the formerly powerhouse iOS line.
Separately, Foxconn fueled the fire by additionally announcing a freeze on hiring factory workers at the plant. Reuters is reporting that the Foxconn freeze extends to all of their factories in China.
But Foxconn denies it is due to any one customer. So what’s the deal?… [Read more…] about Apple Supplier Foxconn Halts Expansion and Freezes Hiring; Sign of iPhone Slump?
In Wake of Weak iPhone 5 Sales, Apple Cuts Parts Orders by 50%
From the looks of it, Apple’s iPhone 5 launch may have been a bit of a dud. Several news services such as Bloomberg News and the Nikkei in Japan are reporting that the company has cut orders to its suppliers for parts by as much as 50%. This moves follows a report that the company quietly cut production schedules on the iPhone 5 last month by 30% and suggests that the latest incarnation of iPhone is selling poorly – or at least below expectations based on initial order levels.
See more about this dramatic turn of events for a critical product for Apple… [Read more…] about In Wake of Weak iPhone 5 Sales, Apple Cuts Parts Orders by 50%
Was Tech Represented on the List of the World’s Best CEO’s?
Recently, we told you about the worst CEO of 2012 (former Best Buy CEO Brian Dunn). Turnabout is fair play, and now Harvard Business Review offers a list of the 100 Best CEOs in the World as a very effective counter-point.
But were technology companies represented on this list? Can we claim some of the best CEOs in the world? Read on and see…
See the top CEOs in the world below…
[Read more…] about Was Tech Represented on the List of the World’s Best CEO’s?
Sharp Spike in Sharp’s Prospects – Said to Working with Hon Hai on Apple iTV
The Wall Street Journal is reporting today that unnamed sources are telling it that Apple has built and is testing a large screen, high definition television that it has worked closely with Asian suppliers to create. Most notably, these sources say that Apple worked closely with Hon Hai Precision Industry Co. (Foxconn) – it’s leading iPhone/iPad supplier – and Sharp Corp. – the troubled Japanese television company.
Will Apple’s iTV save Sharp?… [Read more…] about Sharp Spike in Sharp’s Prospects – Said to Working with Hon Hai on Apple iTV
Consumer Reports Picks Top Ten Electronics of 2012; Their Choices May Surprise You
Consumer Reports, that venerable organization known for torture testing products, ranking their results, and offering advice to consumers on how to pick the right product for them, announced on Thursday their picks for the Top Ten Electronics products for 2012. The list of their picks will appear in the December issue which is its Annual Electronics Issue.
The company said it tested over 600 products for their December issue, but “only ten standout products made the short list for performance and innovation.”
What electronics did they pick? See more below… [Read more…] about Consumer Reports Picks Top Ten Electronics of 2012; Their Choices May Surprise You
Can Sharp Survive? Company’s Performance ‘Raises Serious Doubts About [Our Ability] to Continue’
Last week, we reported on a rumor out of Japan that Sharp Corp. was about to report a dismal interim net loss that was much worse than anticipated. This Wednesday, Sharp confirmed those rumors announcing an interim (Apr-Sept) operating loss of ¥168.9 billion ($2.1 billion). This result was after a ¥84.4 billion ($1.1 billion) charge for costs associated with restructuring their struggling business.
But what really has the industry and investors talking is that the company affirmed that it is likely to show a “huge” net loss for the entire fiscal year of ¥450 billion ($5.6 billion), almost double a previous estimate of ¥250 billion. It is also well above analysts’ estimate of a ¥296 billion loss according to a survey of 17 analysts by Bloomberg. [Read more…] about Can Sharp Survive? Company’s Performance ‘Raises Serious Doubts About [Our Ability] to Continue’
Sharp Shocker: Company Will Report Interim Net Loss Almost Double Their Forecast
The Nikkei reported today that it has learned from unnamed sources that Sharp Corp. is about to report a surprising interim net loss of ¥400 billion (just over $5 billion). Covering the period of their April-through-September fiscal (interim) semester, this loss is 90% worse – almost double – their most recent estimate of a ¥210 billion loss…and an full ten times worse than last years interim loss of ¥39.8 billion.
