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Foxconn’s H1 Profit Falls 56% |
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Written by Chelsey Drysdale
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Thursday, 28 August 2008 |
TAIWAN – Foxconn International’s first-half net profit was $142.2 million, down 56% year-over-year, as a result of higher operating costs, product changes and increased investment spending.
The cellphone maker reported its first-half revenue rose to $4.79 billion, up 4.4% compared to the year-ago period.
Foxconn previously predicted it gross profit margin would fall this year because of a price war, higher costs and corporate taxes.
The company is building a massive campus outside of Juarez, Mexico, that will come online in 2009. |
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