HONG KONG -- Wong's International Holdings reported 2012 EMS revenues fell 15.3% year-over-year to HK$3.3 billion ($425 million).

Sales revenues for the contract printed circuit board assembler's Shajing factory in Shenzhen dropped by 20.5%, while its factory at Suzhou decreased 1.9%, compared to the same period in 2011. The decrease in the overall sales at the EMS Division was largely driven by reduction in demand of electronic products from their customers, as a result of the protracted downturn in global economy.
 
The EMS segment profit was HK$90.4 million, down 45.2% from 2011.
 
Wong's said it would take tighter controls on inventory and manufacturing costs to improve operational efficiency, and focus on providing more value-added engineering services.
 
Wong's ODM division reported its revenue of HK$50.5 million, up 93.4% increase from 2011. The segment lost HK$6.9 million, an improvement from a loss of HK$8.2 million in 2011. The increase was mainly due to higher sales by iCarte for Apple iPhone to South Korea, Australia, Europe and the US
 
Ed: 1 HKD = 0.128819 USD

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