Apple supplier Hon Hai Precision Industry to "significantly" raise wages

Workers at Taiwanese plants run by Hon Hai Precision Industry -- the parent company of iPad and iPhone manufacturer Foxconn -- will begin to see some benefit of the popularity of the Apple products they manufacture in the form of "significantly" higher wages.

The company is doing this primarily to attract and retain top talent at its Taiwanese manufacturing facilities. Foxconn has recently worked on improving worker conditions at plants in mainland China, raising wages and reducing the number of overtime hours worked by employees.