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Foxconn discussing the possibility of price hikes to offset wage increases

Foxconn discussing the possibility of price hikes to offset wage increases

We\’d already heard that Foxconn was seeking to recoup a number of the additional costs spurred on by wage increases by moving some production to Vietnam or Taiwan (in addition as to a new facility in China\’s Henan province), and it now feels like the company could be taking some additional measures in addition. In step with The Wall Street Journal, Foxconn (referred to as Hon Hai) says this may discuss the \” possibility\” of raising product prices with its clients to further offset the wage increases — which, for sure, were prompted by the new spate of suicides at the manufacturing giant, and are set to move into effect this October. Details on those potential price increases are still light beyond that, however, with Foxconn only saying that they might \” vary reckoning on the customer and product.\”

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