1. Michael Essany's Avatar

    There are new problems this weekend for Apple's primary manufacturing partner, Foxconn. According to published reports Friday, Foxconn is being compelled to close its production facilities in Vietnam due to ongoing protests.

    The Taiwan-based electronics supplier is halting operations (for the time being) as a direct result of violent anti-China protests in the region.

    The protests, we're told, pertain to oil drilling.

    China’s contentious oil drilling near the Paracel Islands spurred the protests in Vietnam. China controls the chain of islands in the South China Sea, but Vietnam and Taiwan have also claimed them as their own.
    For now, the closure is expected to last for at least three days, although a longer period of downtime could be possible. If the closure persists, it could impact Foxconn's production obligations to Apple, Microsoft, Cisco and other companies with which Foxconn works.

    Source: ValueWalk
    2014-05-16 09:01 PM