News Archive for 06/08/31

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Foxconn's parent reports 43% profit jump

08/31, 4:55pm

Profits jump for Hon Hai

Hon Hai Precision Industry, the parent company of Apple's iPod manufacturing partner Foxconn, achieved a 43 percent gain in second quarter profit on demand for music players and mobile phones. Bloomberg says that new income climbed to NT$12.8 billion ($388 million) from NT$8.9 billion a year earlier. (According to the report, the earnings were derived by by subtracting first-quarter earnings from six-month figures released by the company today; however, the company could not firm the numbers.) In addition to manufacturing iods, the company is presently vying for Apple's laptop business and also boosted earnings by supplying parts for Motorola Inc.'s Razr phone and Sony Corp.'s PlayStation consoles. In the first six months, net income climbed 40 percent to NT$22.8 billion from a year earlier. Sales expanded 30 percent to NT$359.5 billion, according to the report. Hon Hai's subsidiary Foxconn today reduced the amount of damages it was seeking from two journalists in connection with a lawsuit over a story about iPod factory working conditions.

Robot-based iPod speaker system

08/31, 2:00pm

iPod speaker system

A Japan-based company has released an innovative way to listen to music stored on an iPod throughout the users house, reports Electronista. The new company, ZMP, and established stereo manufacturer Kenwood have released Miuro, a robot which features an integrated iPod dock and Kenwood speakers. The small robot has two wheels which allow it to move from room to room broadcasting music from the docked iPod. The robot not only takes connects to an iPod for music playback, but can also broadcast wireless streams from computer programs such as iTunes. Miuro features a small camera and various sensors to plot out routes. The Miuro is priced at $1000 (USD) in Japan and aims to sell the robot internationally in the second half of 2007.

Wal-Mart, Apple spar for movie sales

08/31, 9:05am

iTunes Movie Store Sept.?

Wal-Mart is displeased with the prospect of Apple taking a bite out of its movie sale business, reports BusinessWeek. The report says that Apple will launch the 'iTunes Movie Store' as soon as mid-September along with a new iPod. Wal-Mart has reportedly become so concerned for its business that it has threatened not to sell DVDs from companies which agree to sell on iTunes. The prospect of Wal-Mart not selling DVDs for Hollywood executives is a terrifying thought -- currently Wal-Mart accounts for 40 percent of DVD sales, about 17 billion dollars of the market. Earlier this year, Wal-Mart played out this move by initially refusing to sell Disney's "High School Musical" after it popped up on iTunes prior to Wal-Mart getting a chance to sell it. In addition, the report says that Apple only has Disney signed-on for iTunes movie sales--despite a comment from Lions Gate that it had a deal with iTunes already.

Foxconn backs down on iPod lawsuit

08/31, 12:00am

Foxconn backs down

Apple's iPod manufacturing partner Foxconn has drastically reduced the amount of damages it is seeking in a lawsuit against two journalists in connection with an allegedly false report on the working conditions in Foxconn's iPod factories. Following a report that said Apple was going to help mediate the dispute between the parties, Foxconn has slashed a libel claim from 30 million yuan ($3.77 million) to just 1 yuan, according to the Xinhua news agency. Foxconn, which manufactures iPods for Apple, said it would also apply to unfreeze the journalists' assets, which include their homes, bank accounts and a car, according to the report. The Chinese manufacturing giant, which is also reportedly vying for additional laptop production business from Apple, was seeking damages caused by a tarnished reputation from false charges of labor abuse. "This is a victory for Chinese media," Weng Bao, one of the two reporters working for the Shanghai-based China Business News, was quoted as saying.