In the News

Inside a factory that makes 350 iPhones a minute

Geoff Riley

29th December 2016

Nearly all iPhones are made in a facility in China that can churn out 500,000 devices a day (or 350 a minute) with the help of over 300,000 employees many of whom earn only around $1.90 an hour. This article from the New York Times is a must read - it takes you on a journey from the Foxconn factory floor to the retail space of Shanghai and San Franciso.

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You could make a case for teaching most of the course using just this article!

It is absolutely jam packed with contextual gold dust and significant pointers to aspects of globalisation, trade, exchange rates, economies of scale, development strategies, pricing, competitive advantage and much more besides.

Read the New York Times article here

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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