A Taiwanese company, involved in the production of “iPhone” phones in India, exposed to theft
and riots at the end of last week, which resulted in losses of approximately $ 7.12 million, amid a dispute
over its true value.
Indian contract workers protested that they not fully paid for the work they did in the Western factory.
Contract workers gathered at the company’s Bangalore site on Saturday to demand payment of their dues
and better working hours.
When the Indian police arrived, the labor demands turned into riots, resulting in vandalism of equipment
and vehicles.
The Taiwanese company estimated the damage recorded at the site at 60 million dollars, but there are
those who said that the actual number is less than that.
Meanwhile, the Taiwanese capital market clarified, on Tuesday, that the company’s production was not
significantly affected and that the warehouse was not severely damaged, contrary to what was reported
by the local press.
Following these events, the Taiwanese company’s share price fell by about 2.5 percent in early Asian trade,
which affected the Taiwan Stock Exchange in general.
The company explained that it had cooperated with the local authorities while the police investigation was
continuing to determine the circumstances of what happened.
The Taiwanese company stated that it is continuing to negotiate with the insurance company in the form
of recent events at the Indian facility.
For its part, the US company “Apple” said that conducting an investigation to find out whether “Westron”
had violated the conditions, adding that it had sent employees and accountants to the facility.
This Taiwanese company is one of the largest sources of supply for “Apple”, and has been working on
the production of “iPhones” in India for four years.
The success of this company is a source of pride for the Narendra Modi government, which is betting
on increasing industrialization and interest in technology in the Asian giant.
