Foxconn Shares Soar On Possible iPhone Deal

Sky news has reported that electronics supplier Foxconn has seen its shares jump by 30% due to a rumour that it will secure a lucrative iPhones contract.

While the rumours have added £513m to the stocks value, the overall stock remains down by about 28% in 2012 due to continual production problems that the company has faced from its Chinese factories. The company breached Chinese labour laws, and in 2010 the company faced stern negative publicity as 13 workers killed themselves due to intolerable working conditions.