Latest news with #HonHai
Newsweek
5 hours ago
- Business
- Newsweek
World's Largest iPhone Maker Sparks Speculation With Rare Move
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The world's largest assembler of iPhones has sparked speculation that it might be making a major update after it suspended its shares from trading. Hon Hai Precision Industry Co.—better known as Foxconn—halted its share trading Tuesday in Taiwan pending an imminent disclosure of market-sensitive information. While little is publicly available about the motivations for the decision, the move is rare for the electronics manufacturing giant and signals the potential for a significant development for the company and its primary client, Apple Inc. Why It Matters Hon Hai is Apple's largest manufacturing partner and is instrumental to the assembly of iPhones and other devices. Apple's reliance on Hon Hai for precision manufacturing and large-scale assembly makes any disruption or announcement by the firm significant for global tech supply chains. The iPhone has long been popular in the U.S., so any changes that could affect them will be of interest to consumers. A person looks at their phone at Seattle-Tacoma International Airport on June 1, 2025, in Seattle. A person looks at their phone at Seattle-Tacoma International Airport on June 1, 2025, in Seattle. AP Photo/Jenny Kane, File What To Know Hon Hai operates expansive manufacturing hubs in China, India and elsewhere, supplying not only Apple but also various electronics brands worldwide. According to Bloomberg, trading suspensions usually take place before market-moving decisions like acquisitions. However, it is not yet known what update the company will make. What People Are Saying Jeff Harris, a finance and real estate professor at American University in Washington, told Newsweek: "Trading halts of this sort almost always indicate a pending corporate announcement that has the potential to move market prices significantly. "Markets halt shares when new information is expected, at least partially to allow all traders to digest the news at the same time—thus protecting uninformed investors from buying after bad news is released [when they don't know the news yet] or from selling after good news is released [before they learn of the good news]. A trading halt intends to allow the news to disseminate, putting all traders on a more equal footing, as far as information is concerned. "In this case, I might anticipate that Hon Hai has news directly related to iPhones—it may be tariff-related, some production problem, some sort of new agreement for long-term production or any number of things. In this case, I would lean toward some negative news, perhaps related to tariffs." What Happens Next Hon Hai is expected to disclose its market-sensitive information on Wednesday, after which it will seek to restart trading of its shares. Earlier this month, Apple signed a $500 million deal with rare-earth producer MP Materials to secure a domestic supply of magnets needed for iPhone production. The magnets will be produced at MP's Fort Worth, Texas, facility beginning in 2027.
CNA
11 hours ago
- Business
- CNA
Foxconn to suspend share trading on July 30 pending major announcement
TAIPEI :Foxconn, also known as Hon Hai Precision Industry, said it will suspend share trading on July 30 pending a major announcement. In Taiwan, companies typically halt trading ahead of announcements, including investments, asset sales and mergers or strategic partnerships, that could affect share prices.
Times of Oman
07-07-2025
- Business
- Times of Oman
Foxconn's June sales hit record high, driven by AI and cloud boom
Taipei: Taiwan-based manufacturing giant Hon Hai Precision Industry Co., known globally as Foxconn, sales for the month of June rose 10 per cent from a year earlier, boosted by cloud and networking gadgets showed strong growth amid an artificial intelligence boom. The company posted a consolidated sale of NTD 540.24 billion (USD 18.67 billion) in June, its highest ever for the month and up 10.09 per cent on a year-on-year basis but down 12.26 per cent from a month earlier, reports Focus Taiwan. In the second quarter, Hon Hai's consolidated sales hit a new high of about NTD 1.80 trillion for the April-June period, up 15.82 per cent from a year earlier and up 9.45 per cent from the first quarter. According to the iPhone assembler, its cloud and networking division benefited from solid global demand for AI applications and cloud services to generate higher sales year-over-year in June. Additionally, the company said, its smart consumer electronics operations received a boost from international brands' efforts to launch new entertainment devices also resulted in a significant year-on-year sales increase in June. However, the company's electronic component operations' June sales were little impacted from June 2024 levels, and the computing division suffered a sales decline in the month, according to the company. In the first six months of 2025, Hon Hai posted consolidated sales of NTD 3.44 trillion, up 19.68 per cent from a year earlier, according to Hon Hai figures. Looking ahead, Hon Hai said sales growth momentum is expected to accelerate in the third quarter, a traditional peak season in the information and communication technology industry. It is expected that its revenue would not only grow from a quarter earlier but also from a year earlier. Furthermore, Hon Hai will hold an investor conference on Aug. 14 to detail its second quarter results and provide guidance for the third quarter and 2025 as a whole.
Asahi Shimbun
07-07-2025
- Automotive
- Asahi Shimbun
Nissan mulling tie-up with Taiwanese firm to build EVs
Nissan Motor Corp., currently undergoing corporate restructuring, is considering plugging into major Taiwanese contract manufacturer Hon Hai Precision Industry Co.'s offer to produce electric vehicles, sources said on July 6. The collaboration includes producing Hon Hai's EVs at Nissan's Oppama plant in Yokosuka, Kanagawa Prefecture. This plant is believed to have been targeted for closure as part of Nissan's restructuring efforts. If an agreement is realized, Nissan could keep the Oppama plant operating and help maintain employment. Hon Hai is a global leader in contract manufacturing for electronic devices such as Apple's iPhone and gaming consoles. Recently, the company has actively expanded into the EV business and has announced its entry into the Japanese market. Unlike traditional automakers, Hon Hai designs and manufactures its standard EV models and supplies them under other company's brands. For Nissan, producing Hon Hai's EVs could boost the low utilization rate of the Oppama plant and enable the company to continue operating the facility. The Oppama plant began operations in 1961. Its annual production capacity is 240,000 units and employs about 3,900 workers as of late October 2024. It was once one of Nissan's main factories but now only produces the automaker's Note and Note Aura compact vehicles. In the fiscal year ending March 2025, Nissan announced a net loss of 670.8 billion yen ($4.6 billion), the third worst in company history. On the same day, Nissan also announced plans to lay off 20,000 employees worldwide and close seven factories. According to sources, Nissan has been considering closing the Oppama plant in particular, which has low operational rates, as well as its subsidiary Nissan Shatai Co.'s Shonan Plant in Hiratsuka, Kanagawa Prefecture.
06-07-2025
- Automotive
Nissan Mulling EV Production Partnership with Hon Hai
Tokyo, July 6 (Jiji Press)--Struggling Japanese automaker Nissan Motor Co. is considering cooperating with Taiwanese contract electronics manufacturer Hon Hai Precision Industry Co. in the electric vehicle field, informed sources said Sunday. The two companies are discussing the potential use of Nissan's Oppama plant in the city of Yokosuka, Kanagawa Prefecture, south of Tokyo, which has been under consideration for closure, for Hon Hai's EV production, according to the sources. If realized, this partnership could help retain jobs and keep the plant operational. Hon Hai is known for assembling Apple Inc.'s iPhones, and has Japanese electronics maker Sharp Corp. under its wing. In recent years, the company has been focusing on the business of designing and manufacturing EVs on consignment from automakers. Japan's Mitsubishi Motors Corp. plans to begin selling in Australia and elsewhere EVs supplied by a Hon Hai affiliate in the second half of 2026. In May, Nissan announced a plan to reduce the number of its vehicle production plants around the world from 17 to 10 as part of its management restructuring efforts. In Japan, the company has been considering closing the Oppama plant and the Shonan plant of affiliated Nissan Shatai Co. in the city of Hiratsuka, Kanagawa. Closing the Oppama plant, which has a production capacity of 240,000 vehicles per year, would result in significant costs for job cuts and negatively impact the local economy. The plant's survival through Nissan's cooperation with Hon Hai would also help maintain the local parts supply network. [Copyright The Jiji Press, Ltd.]
