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Foxconn makes designs on the Chinese retail market, gives laborers $25,000 to start stores

Sean Hollister
August 23, 2010
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Three months ago, the compensation of Chinese laborers was low enough that those who built an iPhone couldn't dream of buying one, but the spending power of China in general has increased enough that electronics giant Foxconn (aka Hon Hai Precision Industries) is actually planning to sell such goods in those laborers' home country. The Wall Street Journal reports that the company will open ten large electronics stores in Shanghai by the end of 2011, and extend its existing chains of smaller retail stores and booths around the country by about 50 and 200 respectively. The plans aren't all focused on middle- and upper-class Chinese, as they provide provision for those aforementioned laborers as well -- on top of several recent wage increases, Foxconn would reportedly provide $25,000 to employees to help start up electronics stores in their hometowns. We wonder how many iPads a laborer would have to sell to afford one of their own.

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