Apple Supplier Foxconn Boosts Wages and Bonuses Ahead of AI-Enabled iPhone 16 Launch
By Thea Felicity
Jul 12, 2024 12:14 PM EDT
Jul 12, 2024 12:14 PM EDT
(Photo : SAM YEH/AFP via Getty Images)
People walk past a Foxconn logo in Taipei on January 31, 2019. - Taiwanese electronics giant Foxconn said on January 31 it was reassessing plans to build a cutting-edge factory in Wisconsin, an investment hailed by President Donald Trump as a flagship example of his push to revive America's manufacturing sector.
At the same time, SCMP reported that the company, also known as Hon Hai Precision Industry, is offering competitive incentives such as a 25 yuan ($3.44) hourly rate and bonuses reaching up to 7,500 yuan ($1034) for returning employees.
The company will also boost wages at its Shenzhen campus, offering temporary workers between 21 and 22 yuan ($2.90 - $3.03) per hour and enticing returning permanent staff with initial monthly salaries of up to 6,000 yuan ($828), with potential for increases based on tenure.
READ MORE: Apple Supplier Foxconn Bans Married Women From Working at India Plant Due to Family Responsibilities
This surge in hiring comes as Apple prepares to introduce its next-generation smartphone, which is set to include AI features expected to debut early next year.
According to Bloomberg, Apple aims to ship over 90 million units of the iPhone 16 in the latter half of 2024, marking a 10% increase from the previous generation.
While Apple's AI-enabled iPhone 16 devices promises massive advancements and hype, its implementation in China remains uncertain due to stringent internet regulations and tough competition from domestic smartphone brands like Huawei and Vivo.
Despite leading in smartphone sales in mainland China last year, Apple faced a 19.1% decline in the first quarter. VCPost shared that this prompted pricing adjustments of $360 less and promotional efforts during China's midyear online shopping season.
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