At a contemporary press conference, Foxconn\’s Executive VP said that the company is actively hunting for tips on how to offset their recently increased wages, including raising prices for clients and extending the improvement of automated systems in their factories. Though the main points are scant and the cost increases wouldn\’t take effect until October, higher prices could conceivably drive up gadget price tags.
The increased wages came after a spate of suicides brought scrutiny to the conditions of its factories. Foxconn, who manufacturers gadgets for corporations like Nokia and Apple, has announced which is closing some factories in China and moving operations to a huge factory city in Northern China. [WSJ]
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