Apple to divert small slice of iPad profits to Foxconn raises?

Apple is reportedly cutting 0.7% of iPad profits to give factory workers at Foxconn, a China-based unit of Taiwan’s Hon Hai Precision Industry, a 20% raise, reports “DailyTech” (http://www.dailytech.com/Report+Apple+Cuts+07+Percent+of+iPad+Profit+to+Give+Factory+Workers+Big+Raise/article18571.htm).

The move follows a rash of recent suicides at the plant. Apple’s products are almost entirely manufactured by Foxconn. The 20% raise won’t hit Apple’s wallet too hard, says “Daily Tech.” It’s estimated to raise the costs of labor for the iPad from 2.3% of the cost to 3%.