Upon the recent release of the iPhone 5, U.S. multinational company, Apple, has announced an increased market value of $651.5 billion and shares up 72% this year, according to an article in The Detroit Free Press.
However, despite Apple’s extraordinary revenue and growth, the global powerhouse has been under inspection, as the company has been facing problems with their factories in underdeveloped countries.
Apple, known for producing and marketing innovative consumer electronics and technological devices, such as the widely utilized iPhone and iPad, have many operational facilities in underdeveloped and developing countries. According to a Wired article, titled “1 Million Workers. 90 Million iPhones. 17 Suicides. Who’s to Blame?”, one such facility, the Foxconn plant in Shenzhen, China, is the largest private employer in China and manufactures a multitude of consumer electronics components. The factory employees roughly half a million workers and offers these workers a steady source of income and many benefits in addition to monetary compensation for their work.
However, 17 suicides by Foxconn workers at the plant (beginning in 2007 and continuing over a span of five years) have led to high scrutiny of the Foxconn plant and Apple’s involvement. Will Apple’s release of the iPhone 5 take away some of the focus from its deep-seated and ongoing factory problems? Read this Wired article for an interesting glimpse into what life is like for workers at the Foxconn plant…
1 Million Workers. 90 Million iPhones. 17 Suicides. Who’s to Blame?: http://www.wired.com/magazine/2011/02/ff_joelinchina/all/1