Hon Hai Precision Industry Co., Ltd. (2317) Hits Revenues Of $30 Billion For Q2 2013

Posted Jul 11, 2013

Hon Hai Precision Industry Co., Ltd. (TPE:2317) has posted Q2 2013 revenues of NT$897 billion ($30 billion), which is up year-on-year even though Apple orders have slowed down.  This is a 0.6% increase from the same period a year earlier.  This figure is above expectations of an average of NT$829 billion ($27.74 billion) from 13 Bloomberg analysts.

Hon Hai (Foxconn) is one of the largest electronics contract manufacturing companies based on revenues.  Foxconn is Apple’s largest manufacturers, but Apple has been diversifying their partnerships with other companies like Pegatron.  For Q1 2013, Foxconn recorded a 19.2% decline in revenue to NT$809 billion ($27.08 billion) due to declines in iPhone orders.  The second quarter figures are looking better though.

As of this past May, Hon Hai’s revenues were at NT$1.71 trillion ($57 billion), which is down 9.9% for the year.  There are reports that suggest Foxconn is starting to massively recruit talent to create the next-generation iPhone.

Foxconn was a confirmed bidder for a 4G license in Taiwan after they put in $8.7 million this past May for a 28% stake in Taifo.  Taifo is a local fiber-optic network service provider.  Foxconn is also partnering with Mozilla to develop 5 new devices including a tablet that will be powered by the Firefox operating system.  Foxconn also partnered with Taiwan Mobile to release an Android smartphone.  Foxconn also created a smart-watch that is compatible with the iPhone.