The Ledger
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Pei: All five smartphone startups Foxconn previously partnered with failed
“Foxconn at that time had worked with like five startups that made phones, and all those five startups have failed.”
Foxconn and Saudi Aramco signed up on Flexport's pre-launch prototype site
“And we got Foxconn signed up, makes, makes the iPhone, Cargill signed up like one of the biggest ad companies in the world. And then one day Saudi Aramco signed up the, National oil company of Saudi Arabia signed up for my fake website.”
Pei: Foxconn historically took inventory risk for phone startups and got stuck
“Foxconn and their competitors, they took on the inventory risk for the startups as well. So when the startups made a big projection in terms of the unit sales and they couldn't deliver, they were fine. Foxconn was stuck with inventory.”