Foxconn increases bonuses for staff assembling iPhone 12 as demand increases

Posted:
in iPhone edited May 7
Major iPhone 12 assembler Foxconn has increased its bonuses for staff on the production line, now offering a one-time $1,158 on top of salaries when workers meet certain conditions.

Workers at Foxconn
Workers at Foxconn


Foxconn regularly uses bonuses as part of its recruitment drive when ramping up production ahead of a new iPhone launch. Now, while the company may be preparing for the next iPhone, it is predominantly assembling the current iPhone 12 range.

According to the South China Morning Post, the increased bonus is for new recruits at the Zhenghzhou factory. These recruits will get the bonus if they work for 90 days, and be on duty for at least 55 days.

The aim is to attract and then also keep staff during what appears to be an unexpectedly busy period. This bonus increase is the third in a month, suggesting that Foxconn is having difficulty getting sufficient staff for its workload.

News of increased pay for workers comes as Foxconn has separately been reported to see increased revenues for April 2021. The company saw $16.62 billion in revenue for the month, representing 31.39% growth year on year.

According to Digitimes, industry sources attributed the growth to "booming shipments for the iPhone 12 series and the PlayStation 5 game console."

Although Foxconn's recruitment drives usually take place around August -- and most likely will again this year for the "iPhone 13" -- the coronavirus has changed the schedule for the iPhone 12 range.

The iPhone 12 was launched later than usual in October, and then some models didn't ship until November. That means there was less time than usual between the launch and the holiday season, so demand has similarly moved into 2021.

Nonetheless, separate reports show that the iPhone 12 range is seeing much higher demand overall than the models from recent years.

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Comments

  • Reply 1 of 6
    BeatsBeats Posts: 2,564member
    There goes “greedy Apple” again, handing out bonuses to their slaves.

    /s

    Strange story. We’re deep enough in the iPhone 12 cycle we’re demand should slow down. Is iPhone 12 a supercycle or am I reading this wrong?
    sconosciutowatto_cobra
  • Reply 2 of 6
    Beats said:
    There goes “greedy Apple” again, handing out bonuses to their slaves.

    /s
    Apple is DOOOOOOOMED but srsly this is a $180-$200 stock... how many expectation-smashing quarters does Wall Street want for it to value AAPL anywhere close to the valuation given to TSLA, AMZN, GOOG?
    Beatswatto_cobra
  • Reply 3 of 6
    JapheyJaphey Posts: 927member
    Beats said:
    There goes “greedy Apple” again, handing out bonuses to their slaves.

    /s
    Apple is DOOOOOOOMED but srsly this is a $180-$200 stock... how many expectation-smashing quarters does Wall Street want for it to value AAPL anywhere close to the valuation given to TSLA, AMZN, GOOG?
    Huh? 
    AMZN = 1.660T
    GOOG = 1.590T
    TSLA = 0.648T

    AAPL =  2.173T

    The value of a stock is not the same as it’s price per share. By market cap, Wall Street clearly values AAPL far more than the companies you’ve listed. Do you know anything about investing, or did you just come here to troll?
    edited May 7 muthuk_vanalingamlkrupp
  • Reply 4 of 6
    fastasleepfastasleep Posts: 5,827member
    Beats said:
    There goes “greedy Apple” again, handing out bonuses to their slaves.

    /s
    Apple is DOOOOOOOMED but srsly this is a $180-$200 stock... how many expectation-smashing quarters does Wall Street want for it to value AAPL anywhere close to the valuation given to TSLA, AMZN, GOOG?
    Are you seriously comparing the price per share amongst these stocks? How is that a metric of anything?
    muthuk_vanalingamwatto_cobra
  • Reply 5 of 6
    lkrupplkrupp Posts: 9,557member
    Beats said:
    There goes “greedy Apple” again, handing out bonuses to their slaves.

    /s
    Apple is DOOOOOOOMED but srsly this is a $180-$200 stock... how many expectation-smashing quarters does Wall Street want for it to value AAPL anywhere close to the valuation given to TSLA, AMZN, GOOG?
    Are you seriously comparing the price per share amongst these stocks? How is that a metric of anything?
    Well, fanboys of other platforms have always used stock price as proof of their superiority. Momma always says, “Stupid is as stupid does”.
    watto_cobra
  • Reply 6 of 6
    Japhey said:
    Beats said:
    There goes “greedy Apple” again, handing out bonuses to their slaves.

    /s
    Apple is DOOOOOOOMED but srsly this is a $180-$200 stock... how many expectation-smashing quarters does Wall Street want for it to value AAPL anywhere close to the valuation given to TSLA, AMZN, GOOG?
    Huh? 
    AMZN = 1.660T
    GOOG = 1.590T
    TSLA = 0.648T

    AAPL =  2.173T

    The value of a stock is not the same as it’s price per share. By market cap, Wall Street clearly values AAPL far more than the companies you’ve listed. Do you know anything about investing, or did you just come here to troll?
    Judging by my portfolio and the fact that I retired at 55, I would say yes I know a lot about investing. Suck on my $2M+ portfolio, pal.

    Did you come here just to be a dick? Survey says yes.
    edited May 14
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