Hon Hai Q2 Earnings Rise 21% Despite Foxconn Woes
Published: 31 August 2009
by Staff
The company easily beat previous earnings estimates of T$11.23 billion.
On the flip side, Hon Hai’s contract manufacturing unit Foxconn International reported its second straight half-year loss, as Nokia and others dropped business with them.
For the six months ended June 30, Foxconn reported a 34% year-over-year drop in consolidated turnover of $3.16 billion. The company’s loss was $19 million, down from $142 million last year.
Foxconn was hurt by falling demand for handsets: Shipments have dropped 90 million units to a total of 520 million units so far this year.
US $1 = T $32.915
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