As many suppliers and analyst raise concerns about iPhone sales outlook, Foxconn is setting out to cut costs according to an internal memo seen by Bloomberg. Foxconn is Apple’s biggest assembler of iPhones so its performance is often seen as a proxy for Apple itself.
Foxconn aims to reduce costs by almost 20 billion yuan ($3bn) for the 2019 year, which includes laying off about ten percent of its ‘non-technical’ workforce.
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