Foxconn Announces $226 Million In Half-Year Net Loss

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Foxconn has announced that they have hit a record net loss of $226 million on turnover of $2 billion for the first half of the year.  The company referred to the European debt crisis, the global economic slowdown, and their customers for the “continuous struggle.”  Capacity is outstripping demand as the company is pushing for new customers.  The company is moving some of their Shezhen-based facilities to areas in Northern China. [Reuters]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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