Hon Hai Reports Larger Than Expected Profit

Hon Hai Precision Industry Co., the parent company of Foxconn, has reported a larger-than-expected profit since Apple paid more for the manufacturing of the iPhone.  Hon Hai reported third quarter net income of 58% to NT$30.3 billion ($1 billion) according to estimates from Bloomberg based on nine-month results filed to the Taiwan Stock Exchange yesterday evening.  Analysts were expecting profit of NT$23.4 billion.

Foxconn LogoHon Hai benefited from a reversal of losses based on a planned investment in Sharp Corporation.  They also improved the efficiency at new plans.  Since Apple increased their payments, it helped the company deal with the labor unrest and product shortages.


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