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Foxconn Reportedly Received a $12.8 Million Dollar Subsidy due to Slower iPhone 6s Production

10.6. NEWS - RUMOR

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Early yesterday we posted a report titled, "Nervous Market Rattles 'AAPL' with further Rumors of iPhone 6s Sales Slowdown." Last night the Wall Street Journal elaborated on the alleged iPhone 6s slowdown by reporting that "A Chinese provincial capital promised Foxconn Technology Group —which assembles iPhones—more than $12 million in subsidies to minimize layoffs at its operations there, according to a government document. The subsidies came after Foxconn began dismissing some workers there earlier than usual for the Chinese Lunar New Year break, according to people familiar with the manufacturer."


Foxconn declined to say if changes in iPhone demand were a factor in the subsidies it received from the city of Zhengzhou, home of a plant that employs at least 200,000 workers and that analysts say primarily makes the iPhone.


The Wall Street Journal report further noted that "The Zhengzhou government didn't respond to a request for comment. Zhengzhou's human resources and social security department posted a notice on its website dated Dec. 25 that it would grant Foxconn 81.9 million yuan (US$12.6 million) as an 'unemployment-insurance work-force stabilization subsidy.'"


Whether any of these latest iPhone 6s production slowdown reports are true will be revealed when Apple reports on their financials for the holiday quarter on January 26.


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