Tuesday, 14 May 2019

Why Foxconn Han Chinese Rat Zou Wants to be President of Taiwan!


This Han Chinese Rat living in Taiwan wants to run for President so he can sell Taiwan to the other ravenous Rats in Ratland China! STOP THE MOTHERFUCKER!

Foxconn, the electronics manufacturer, reported a 17.7 per cent year-on-year drop in profits in the first quarter after several months of weak smartphone growth. The Taipei-listed company said net profit was NT$19.82bn (£492m) for the first three months of 2019, below a consensus estimate of NT$25bn from analysts polled by Refinitiv. Foxconn, whose chairman Terry Gou has said he wants to run for Taiwan’s presidency, did not explain what had led to the dip. Many of the Taiwanese companies that dominate the global electronics supply chain are suffering from waning consumer demand. TSMC, the world’s largest contract chipmaker, posted a 32 per cent annual fall in first-quarter profits, blaming slowing smartphone sales.
But Foxconn is hit harder than most because as the largest assembler of the iPhone it is overly dependent on revenue from Apple, whose smartphones have struggled, especially in China. Sales for the three months to March, though, rose 2.5 per cent from the same period a year earlier. But the company’s operating margin shrank from 3.55 per cent in the fourth quarter of last year to 1.5 per cent in the first quarter of 2019.
Driven by the US-China trade war, rising labour costs and diminishing investment incentives in China, many electronics hardware makers are expanding production capacity in south-east Asia and India instead of China. Although Foxconn is ramping up capacity in India and looking at Vietnam, analysts said the group had less leeway to relocate operations away from China because of its heavy dependence on iPhones.
While the devices of some rival brands are assembled by glueing, many parts of the iPhone need to be put together with tiny screws, an operation that robots are largely unable to perform. No other country can offer the hundreds of thousands of migrant workers Foxconn uses to run its factories in China. This iPhone-induced heavy reliance on human labour and on China was taking a toll on profitability, analysts said. Foxconn said on Friday it planned to restructure its board of directors to include seven new members. Mr Gou and Lu Fang-ming, deputy chairman and head of Asia-Pacific Telecom, would retain their seats.

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