Apple is having a big problem at its Foxconn iPhone factory in China

Hong Kong CNN Business – A violent labor mutiny at the world’s largest iPhone factory this week in central China added pressure to Apple’s strained supplies and highlights how the country’s strict no-Covid policy is hurting global tech companies. The unrest began last month when workers left the factory campus in Zhengzhou, the capital of … Read more

Foxconn protests: iPhone factory offers to pay its workers to quit and leave Zhengzhou campus

Hong Kong CNN Business – Foxconn has offered to pay newly hired workers 10,000 yuan ($1,400) to quit and leave the world’s largest iPhone assembly plant, in a bid to quell protests that have seen hundreds clash with security forces at the complex in central China. The Apple supplier made the offer on Wednesday after … Read more

Sonos executives say trends have “settled,” and stocks are heading higher after earnings

Sonos Inc. executives say trends in the business have “settled” lately, and its shares headed higher in aftermarket activity Wednesday as the speaker maker beat its revenue forecast for the most recent quarter. The company generated $316.3 million in revenue for its fiscal fourth quarter, down from $359.5 million a year earlier but ahead of … Read more