Apple Falls After IPhone Builder Foxconn Halts Hiring
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Foxconn Technology Group, the maker of products including Apple Inc.’s iPhone, said it was freezing hiring at factories in China, fueling concern about a slowdown in consumer-electronics demand and prompting Apple to fall.
Foxconn halted recruitment until the end of March after more workers returned from the Lunar New Year break than a year earlier, Bruce Liu, a spokesman for the Taipei-based company, said yesterday by phone. The decision wasn’t related to iPhone 5 production, he said, countering an earlier Financial Times report. Steve Dowling, an Apple spokesman in Cupertino, California, declined to comment.