Boss of Foxconn parent company Hon Hai Precision, Terry Gou, has said that moves to make the production lines which churn out Apple's expensive gadgets - as well as consumer electronics for some of the world's biggest companies - more efficient will start to turn a profit later this year.
According to a report by Bloomberg, the gadget assembler has failed to keep up with the meteoric rise in profits Apple has seen on the back of the iPad and iPad 2 because the devices are 'very difficult to make'. But the company has learned lessons since the launch of the pioneering touch-screen tablet and has worked out ways of making them more efficient.
Hopefully some of those methods will involve something other than forcing workers to do more mandatory overtime for very little pay at a facility which has seen an alarming number of worker suicides.
Hon Hai's last two quarters have seen declining profits caused by an increased wage bill which the company was forced to offer as its increasingly embarrassing workforce woes turned into a PR nightmare for both Foxconn and Apple.
But things might be finally looking up for Gou and his company. Apple is currently selling every iPad 2 Foxconn can make and the future is looking brighter, for the comapny's shareholders at least. Speaking at an annual shareholder meeting, Gou apparently said, “We’ve helped Apple make a lot of money. If our customers make money, then we can also make money. I most fear customers that don’t make money.”
Apple made $14 billion in profit last year.