At a recent press conference, Foxconn’s Executive VP said that the company is actively looking for ways to offset their recently increased wages, including raising prices for clients and increasing the development of automated systems in their factories. Though the details are scant and the price increases wouldn’t take effect until October, higher prices could conceivably drive up gadget price tags.
The increased wages came after a spate of suicides brought scrutiny to the conditions of its factories. Foxconn, who manufacturers gadgets for companies like Nokia and Apple, has announced that it’s closing some factories in China and moving operations to a huge factory city in Northern China. [WSJ]