iPhone maker Foxconn hikes pay ahead of new model launch

Ahead of its iPhone 15 launch in September, Apple supplier Foxconn is taking all the efforts to recruit more workers for the world's largest iPhone factory.

Foxconn says new workers at its plant in Zhengzhou, China will get bonuses of up to 3,000 yuan ($424; £343) if they stay in the job for at least 90 days.

Not only this, Foxconn further said the current employees who successfully refer a friend or family member will also qualify for an award.

Foxconn’s Zhengzhou facility, which can house some 200,000 workers, is gearing up for another hectic production run this year ahead of Apple’s expected release of the new iPhone 15 models this September.

Foxconn's profits slump 56 percent in first quarter

Profits for Taiwanese tech giant and key Apple supplier Foxconn fell 56 percent in the first quarter, a plunge blamed on weakened demand due to a global downturn.

Foxconn -- also known by its official name Hon Hai Precision Industry -- is the world's biggest contract electronics manufacturer and assembles devices for many international brands, most notably Apple's iPhone products.

For the January-March period, net profit slumped 56 percent year-on-year to $12.8 billion Taiwan dollars (US$417 million), while revenue rose four percent on-year to $1.46 trillion Taiwan dollars.