Apple Shares Fall Again as Foxconn Halts Hiring

A spokesperson for the Chinese company says the move has nothing to do with Apple

By on February 20th, 2013 15:57 GMT

Apple’s stock price took a new tumble today on rumors that Foxconn is no longer hiring because iPhone demand is weakening. However, at least one report says Apple had nothing to do with it.

Foxconn has reportedly halted recruitment until the end of March, and the Financial Times says the iPhone’s to blame. Low demand for the handset has prompted the Chinese conglomerate to stop hiring personnel, says the newspaper.

However, Bruce Liu, a spokesman for the Taipei-based company, tells Bloomberg in a phone interview that a lot of staffers returned to the factories from the Chinese New Year break. More than the year before, he says, citing this as the main reason why Foxconn doesn't need to beef up staff.

So which is which? Well, it’s probably a little bit of both. This is not the first time a high-profile news outlet says the iPhone is losing its steam. Then again, you never know who’s pulling what strings these days in the stock market.

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