Rumors broadcast yesterday by Reuters indicate that Foxconn, a partner of Apple and many other technology companies in the manufacture of gadgets, should give a nice destination to the extra money obtained with the recent increase in their prices.
A new factory with a capacity of 20,000 employees is expected to be built in Chengdu, with a total investment of US $ 10 billion over an unspecified period. In addition, a line used in the production of LCDs already installed in that location will receive an update in its technology as soon as Foxconn has the government approval for this. An official announcement is due next week by the company's CEO, Terry Gou.
I just hope that this whole investment is something added the increase in wages and the improvement of the working conditions of the employees, but everything indicates that the migration to Chengdu in search of cheaper and more abundant labor than in Shenzhen. Beautiful, that, huh?
(via Electronist)
