iPhone-Maker Foxconn Puts A Hold On Hiring, Cuts iPhone 5 Production

groupme app iphone 5

Photo: Kevin Smith/Business Insider

Chinese iPhone-maker Foxconn is putting a hold on hiring and cutting production of the iPhone 5, the Financial Times reports.Foxconn is China’s largest private sector employer.

There are all kinds of reasons this could be happening.

Some possibilities:

  • Apple might be gearing up to build a new version of the iPhone. They have already been plenty of leaks about hte iPhone 5S.
  • Apple could be switching manufacturers.
  • Apple could be screwed, dealing with a saturated smartphone market.

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