In the statement, the EMS company blamed “changes in product mix,
lower demand and pricing due to global economic downturn, and higher
operating costs resulting primarily from lower utilization of
facilities, the relocation of certain of the Group’s production
facilities and the restructuring of the Group’s global operations.”
Foxconn also cited increased R&D
spending, reduced foreign exchange gains and higher income tax expense.
The company did not disclose any specific guidance on its 2008 profits.