Now, we see that Apple's negative financial performance runs downhill as well, with one of its most important suppliers, Foxconn Technology Group, also suffering a drop in sales in 2016 compared to 2015.
Apple supplier Foxconn is moving away from human labor and toward full automation -- and it's doing so in three phases. The move is controversial, as the company has already eliminated thousands of jobs.
No matter how much time you've wasted at the water cooler this year, you'll look like Employee of the Year when compared to a Foxconn worker, who made away with a stunning $1.56 million worth of iPhones.
Foxconn is reportedly developing a wireless charging module that could be implemented in all stock iPhones next year. With a rumored curved screen, too, the iPhone 8 may end up being a very different kind of phone.
Apple supplier Foxconn has terminated 60,000 employees at it's factory in Kunshan, China, in favor of robot workers, according to a recent report. The report also says that other factories in the area are likely to follow suit.
Foxconn has reached a deal with Sharp to acquire the Japanese firm for $3.5 billion, lower than the earlier announced figures, after an extended period of due diligence. Signatures will be exchanged in early April.
Foxconn has made a $5.3 billion bid for failing display manufacturer Sharp, and has also offered to pay off all the company's debts to Japanese creditors. It follows several bailouts from Japanese banks and a continued operating loss.
Apple has informed suppliers to scale back production of components for the iPhone 6S and 6S Plus, after lower than expected sales numbers. Suppliers might be forced to lower expectations until the iPhone 7 release, coming later this year.
Indian labourers may soon get to find out what it's like working for Foxconn producing Apple hardware, as the Indian government has granted permission for the construction of several new, high-tech electronics manufacturing facilities.