Foxconn plant in Zhengzhou, from which many workers have fled, now under seven-day Covid lockdown
Chinese authorities have announced a seven-day coronavirus lockdown in the area around the world’s largest iPhone factory, stoking concern that production will be severely curtailed ahead of the Christmas period.
Foxconn’s plant in Zhengzhou, which employs about 200,000 people, produces the majority of Apple’s new phones, including the new iPhone 14.
Continue reading...The company reported an 8% increase of earnings at $90.1bn beating Wall Street expectations with net profit of $1.29 a share
Apple’s quarterly earnings on Thursday revealed that the company is weathering the ongoing tech downturn better than its competitors, reporting revenue and profit that topped Wall Street targets.
Revenue rose 8% this quarter to $90.1bn, above estimates of $88.9bn, while net profit was $1.29 a share, topping with the average analyst estimate of $1.27 a share, according to data from the market research firm Refinitiv.
Continue reading...Apple will be forced to change charger after EU votes to use USB-C connectors
The European parliament has voted to introduce a single charging port for mobile phones, tablets and cameras by 2024 in a move that presents difficulties for Apple, whose iPhones use a different power connector.
The vote confirms an earlier agreement among EU institutions and will make USB-C connectors used by Android-based devices the EU standard, forcing Apple to change its charging port for its devices.
Continue reading...Move taken against background of China’s Covid lockdowns and geopolitical tensions between Beijing and Washington
Apple has begun making iPhone 14s in India, as it moves some production away from China for the first time against a backdrop of Chinese Covid-19 pandemic lockdowns and geopolitical tensions between the US and the country’s communist government.
A production line in Chennai has begun operation, assembling the iPhone 14 for the domestic Indian market. The move, which marks the first time the company has assembled iPhones outside of China in the same year they were released, is part of a plan to disentangle its manufacturing operations from the Chinese state.
Continue reading...Amazon ecosystem is on verge of collapse, leaders tell brands such as Apple and Tesla as UN gathers in New York
Indigenous leaders from the Amazon have implored major western brands and banks to stop supporting the ongoing destruction of the vital rainforest through mining, oil drilling and logging, warning that the ecosystem is on the brink of a disastrous collapse.
Representatives of Indigenous peoples from across the Amazon region have descended upon New York this week to press governments and businesses, gathered in the city for climate and United Nations gatherings, to stem the flow of finance to activities that are polluting and deforesting large areas of the rainforest.
Continue reading...After successful unionization drives, experts say companies will ‘fight to the end’ to prevent the next step
Over the past year, workers at Starbucks, Amazon, Trader Joe’s and Apple have all achieved historic, hard-won union victories, but now many of these newly unionized workers fear they might face an even bigger challenge: negotiating a first union contract.
Exhibit A for that challenge is the slow pace of progress at Starbucks. Unions have won elections at more than 220 stores. Many baristas are upset that Starbucks has begun negotiations with workers at only three of them.
Continue reading...The vulnerability has affected various models of the iPhone, iPad and Mac, with experts advising updating products to secure them
Apple disclosed serious security vulnerabilities for iPhones, iPads and Macs that could potentially allow attackers to take complete control of these devices on Wednesday.
The company said it is “aware of a report that this issue may have been actively exploited”.
Continue reading...‘Terrifying tool’ under scrutiny as Salma al-Shehab’s tweets suggest widely available phone app was used to report her
The Saudi woman who was sentenced to 34 years in prison for a tweet appears to have been denounced to Saudi authorities through a crime-reporting app that users in the kingdom can download to Apple and Android phones.
A review of Leeds PhD student Salma al-Shehab’s tweets and interactions shows she was messaged by a person using a Saudi account on 15 November, 2020 after she posted a mildly critical tweet in response to a Saudi government post about a new public transportation contract.
Continue reading...Some US firms have announced hiring slowdowns and layoffs in recent weeks amid fears of recession
As top tech companies prepare to release their quarterly earnings reports starting next week, investors are bracing for bad news.
Several US tech companies have announced hiring slowdowns and layoffs in recent weeks, and the difficulties are expected to continue. “It’s not a great time for tech in general,” said Paul Verna, an analyst at Insider Intelligence, a market analysis firm. “There is no question that companies are going to be spending less, cutting back budgets, and maybe implementing hiring freezes. None of that is good news for the next quarter.”
Continue reading...Move comes as unionization efforts gain momentum across country, including at Amazon and Starbucks
Apple Store workers in Maryland have voted to join a union, becoming the tech giant’s first retail employees to join a labour-force movement as part of a wider trend across US retail, service and tech industries.
Workers voted to unionise on a nearly two-to-one margin and the result, announced on Saturday by the National Labor Relations Board, provides a foothold for a budding movement among Apple retail employees who want a greater voice over wages and policies pertaining to the ongoing Covid-19 pandemic.
Reuters and Associated Press contributed to this report
Continue reading...Consumer champion Justin Gutmann alleges older iPhones made slower to cope with software updates
A consumer champion has launched a more than £750m legal claim against Apple, linked to an incident in 2017 relating to a power management tool on older iPhones.
Justin Gutmann has accused the tech giant of slowing down the performance of iPhone handsets – a process known as “throttling” – by hiding a power management tool in software updates to combat performance issues and stop older devices from shutting down suddenly.
Continue reading...Company tells consumer watchdog it is set to lose $10bn this year in wake of Apple iOS feature hampering ability to collect user data
Meta says Apple’s decision to allow users to stop apps tracking them on their phones has diminished Facebook’s advertising market power, and therefore the social media giant should not face further regulation in Australia.
In mid-2021 Apple rolled out a new feature in iOS 14.5 called “app tracking transparency” which asks for users’ consent before an app can track their activity across websites and apps, and allows users to opt out of the tracking at any time.
Continue reading...Soaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker
Apple has lost its crown as the world’s most valuable company to the oil giant Saudi Aramco, as soaring commodity prices swell profits at energy companies and technology stocks continue to slide.
In a sign that the old economy is reasserting itself over the new this year, Aramco eclipsed Apple on Wednesday night amid the ongoing rout on Wall Street.
Continue reading...The tech giant saw nearly $3tn in profits despite challenges created by the Russia-Ukraine war and the global supply chain
Apple on Thursday reported strong quarterly results despite supply shortages, but warned that its growth slowdown is likely to deepen. The company said it’s still struggling to get enough chips to meet demand and is contending with Covid-related shutdowns at factories in China that make iPhones and other products.
Although initial results for the January-March period topped analysts’ projections, the good news was quickly eclipsed when management warned of trouble ahead during a conference call.
Continue reading...Operations stopped in Chinese cities of Shanghai and Kunshan as global supply chains feel pinch of Beijing's zero-Covid measures
Key iPhone maker Pegatron has halted operations at two subsidiaries in the Chinese cities of Shanghai and Kunshan, as global supply chains feel the pinch of Beijing’s strict zero-Covid measures.
The business hub of Shanghai has become the heart of China’s biggest Covid-19 outbreak since the virus surfaced more than two years ago.
Continue reading...Quartet targeted by clients – thought to be Jordanian government agencies – of Israeli company even after Apple sued in November
New evidence has revealed that an Apple iPhone was successfully hacked by a government user of NSO Group’s Pegasus spyware in December, weeks after the technology giant sued the Israeli company in a US court and called for it to be banned from “harming individuals” using Apple products.
A report published on Tuesday by security researchers at Front Line Defenders (FLD) and Citizen Lab at the University of Toronto found that phones belonging to four Jordanian human rights defenders, lawyers and journalists were hacked by government clients of NSO – which appear to be Jordanian government agencies – from August 2019 to December 2021.
Continue reading...Technology stocks have been tumbling in the new year; now all eyes are on the sector’s giants as they report results
Tech stocks have been nursing a new year hangover, pushing the Nasdaq into correction territory. Momentum is building against companies with exciting promises to reshape the world, as investors turn to “value” alternatives such as oil and banking.
The tech sector now faces a crunch fortnight as its biggest names report results, including Microsoft on Tuesday, Tesla on Wednesday and Apple on Thursday. They must prove they can thrive in a post-lockdown world where the cost-of-living squeeze is leaving people with less money for tech products and services.
Continue reading...New year trading pushed Apple shares to a new high of $182.80 after tripling in value in under four years
Apple became the first US company to be valued at over $3tn on Monday as the tech company continued its phenomenal share price growth, tripling in value in under four years.
A pandemic-era surge in tech stocks has driven the major US tech companies to new highs, pulling US stock markets with them. Apple became the world’s first trillion dollar company in August 2018, passed $2tn in 2020 and hit its new high as trading began after the holidays and its shares passed $182.80 a piece before dipping lower to end the day valued at over $2.9tn.
Continue reading...Employers are pausing efforts to call remote workers back in amid a renewed push for strikes and unionization
Large US companies are now pulling back on plans to return to in-person work in light of the Omicron variant’s rapid spread across America.
Employers planning to call remote workers back into the office in the new year are now pausing those efforts, and they are wary of setting new return dates only to push them back once again in the face of continued uncertainty and risks from the pandemic.
Continue reading...The Information reports Apple CEO’s agreement will placate threats that would have hobbled its devices and services in the country
Tim Cook, the chief executive of Apple, signed an agreement with Chinese officials, estimated to be worth about $275bn, to placate threats that would have hobbled its devices and services in the country, The Information reported on Tuesday.
Apple did not immediately respond to a Reuters request for comment.
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