Clive Baker gave the world the rainbow flag, he gave me forty years of love and friendship," Cleve Jones said on Twitter. No details were immediately available on the cause of Baker's death or where he died. Jones also tweeted a photo of Baker with former President Barack Obama, inviting mourners to meet him under a rainbow flag in the Castro district of San Francisco on Friday evening to remember his friend.
The fate of Apple and Foxconn, its gargantuan Chinese manufacturing partner, are closely linked. When iPhone and iPad sales flatlined a little around the iPhone 6s era, Foxconn slipped into decline. From Q3 2015 to Q3 2016, Foxconn's revenue was declining on a year-by-year basis. With little structural change in the business, a decline was expected for the fourth quarter of 2016. But once again, analysts underestimated the iPhone 7.
Net profit was up 30 percent for Foxconn compared to the same quarter in 2015, a major jump by any measure. The fact that it beat analysts' predictions of a loss -- and beat it by $660 million -- shows how far off some predictions were. Net profit was T$68.77 billion ($2.26 billion), up from T$52.93 billion in Q4 2015, according to Reuters.
The turnaround was mostly attributed to increased iPhone sales. Apple drives about half of Foxconn's profits, so it makes sense that Apple's record shipment of iPhones in Q4 last year would see Foxconn turn around sharply. Other investments, such as Foxconn's in-house manufacturing robots division and its purchase of screen-maker Sharp, are also starting to pay dividends.
With a strong 2016 final quarter on record, Foxconn is now well set up for a record year. Apple is expected to release three new iPhone models this year, including updates to the iPhone 7 generation and an all-new iPhone 8 (also referred to as the iPhone Edition or iPhone X). Those updates promise a growth in the number of iPhone sales overall, and if the iPhone 8 actually sells for more than $1,000 as has been rumored, the profit margin on every iPhone could also go up.
Add in a revamped iPad line with a new budget model, and things are looking rosy for Foxconn.
(Reuters) - Generic drugmaker Mylan NV said on Friday that its manufacturing partner for EpiPen devices had expanded a recall of the life-saving allergy shot in the United States and other markets. The announcement comes a week after Mylan said it had recalled about 81,000 EpiPen devices in countries outside the United States following two reports of the company's allergy treatment failing to work in emergencies. The recall is being initiated in the United States and will extend to Europe, Asia, North and South America, Mylan said.
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