Nov 21, 2018

Report: Foxconn slashing iPhone business costs

A worker on a factory line at the Foxconn plant in Shenzen in 2010. Photo: Voishmel/AFP/Getty Images

Foxconn, the biggest assembler of iPhones, wants to cut $2.9 billion in expenses next year — including cutting costs and shrinking "non-technical staff" by 10% within its iPhone business — citing a "very difficult and competitive year," according to an internal memo obtained by Bloomberg.

Why it matters: This follows a string of reports about Apple's suppliers cutting their financial outlooks, plus Apple reportedly cutting iPhone production orders, fueling concerns about weaker demand for Apple's flagship product. In its most recent earnings report, Apple said it would no longer break out unit sales for its iPhones and iPads.

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Axios

Updated 40 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand has a single novel coronavirus case after reporting a week of no new infections, the Ministry of Health confirmed on Friday local time.

By the numbers: Nearly 6 million people have tested positive for COVID-19 and over 2.3 million have recovered from the virus. Over 357,000 people have died globally. The U.S. has reported the most cases in the world with over 1.6 million.

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Axios

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 8:30 p.m. ET: 5,803,416 — Total deaths: 359,791 — Total recoveries — 2,413,576 — Map.
U.S.: Total confirmed cases as of 8:30 p.m. ET: 1,720,613 — Total deaths: 101,573 — Total recoveries: 399,991 — Total tested: 15,646,041 — Map.
Public health: The mystery of coronavirus superspreaders.
Congress: Pelosi slams McConnell on stimulus delay — Sen. Tim Kaine and wife test positive for coronavirus antibodies.
World: Twitter slapped a fact-check label on a pair of months-old tweets from a Chinese government spokesperson that falsely suggested that the coronavirus originated in the U.S.
2020: The RNC has issued their proposed safety guidelines for its planned convention in Charlotte, North Carolina.
Axios on HBO: Science fiction writers tell us how they see the coronavirus pandemic.
🏃‍♀️Sports: Boston Marathon canceled after initial postponement, asks runners to go virtual.
What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagious — Masks, lending books and self-isolating — Exercise, laundry, what counts as soap — Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — How to minimize your risk.
Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Dave Lawler

3 hours ago - World

The eye of the COVID-19 storm shifts to Latin America

Data: The Center for Systems Science and Engineering at Johns Hopkins; Chart: Naema Ahmed/Axios

The epicenter of the COVID-19 pandemic has moved from China to Europe to the United States and now to Latin America.

Why it matters: Up until now, the pandemic has struck hardest in relatively affluent countries. But it's now spreading fastest in countries where it will be even harder to track, treat and contain.

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