Apple Shares Slip 2.8% On Foxconn Hiring Freeze, But It May Be Because Of Robots, Not Slack iPhone 5 Demand

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http://techcrunch.com – Apple’s stock price fell 2.8 percent after investors worried that a hiring freeze at Foxconn’s China plants is related to slowing iPhone 5 sales. Foxconn suspended recruitment at its factories in Zhengzhou and Shenzhen and it also reportedly postponed the construction of a new factory. Though this may point to slackening demand for the iPhone 5, it could also mean that Foxconn is preparing to adjust its production line in order to install automated robots as a way to get around increasing wages and concerns that poor working conditions played a role in a series of worker suicides. (IT news)