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Saturday, 3 December 2016

iPhones Worth About $1.5 Was Stolen By One Foxconn Formal Manager

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This might be the first time most of you will hear about this company so I will do a little intro about the company to you.

Foxconn Technology Group, is a Taiwanese multinational electronics contract manufacturing company headquartered in New Taipei City, Taiwan. Foxconn is the world's largest contract electronics manufacturer, and the third-largest information technology company by revenue.




One of Foxconn former manager has been indicted for his alleged involvement in an illegal operation to smuggle some 5,700 iPhones out of Foxconn's testing facility and onto the retail scene in Shenzhen, China.

Reportedly, during his tenure at Foxconn, the former manager identified by his family name Tsai, used eight employees to steal iPhone 5 and iPhone 5s units designed for testing out of Foxconn's Shenzhen-based factory in the course of 2013 and 2014. The stolen goods amount to around 5,700 units that are reportedly worth around $1.56 million.

Attention was drawn to the missing phones in an internal audit which prompted the Taiwanese company to contact authorities.

Tsai has apparently been charged with breach of trust and could end up serving a maximum 10-year sentence in jail.


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