I'll bet manufacturers, including Apple, will hold down costs due to the fragile economy. Apple is one of many who use Foxconn for parts, the other companies will also be affected. I also doubt the increase in wages will add all that much to the final product. It will just mean the next version of a product won't be reduced as much in price, or not at all.
Look at it from the other's perspective, now those workers may be able to afford something they make themselves. Well, maybe someday.