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© Apple Electronics Production | June 10, 2010

Apple in zero-profit deal with Foxconn?

Apple awarded the 2009 iPhone orders to Foxconn when the EMS-provider agreed to sell parts at “zero profit”, the workers rights activist group SACOM states, citing industry sources.
“We wish to express concern that Apple is squeezing its suppliers worldwide with too little concern for the effects of this on the people who produce their products. While the economic crisis pushed hundreds of electronics suppliers out of business, Apple enjoyed record profits, and still Apple used every opportunity to secure ever lower prices from suppliers. Industry sources suggest that Apple awarded 2009 iPhone orders to Foxconn when Foxconn agreed to sell parts at “zero profit”. Apple revenues at the time were upwards of US$10 billion”, the group writes in an open letter to Steve Jobs.

The fact that the Chinese government froze minimum wage requirements throughout 2009 due to the economic crisis has also helped Apple to post the profits that it did, the letter continues.

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