Apple supplier Foxconn has record profit

The Taiwan-based components maker has an income of $1.2 billion, after Apple ramps up its iPhone manufacturing.

Josh Lowensohn/CNET

Apple iPhone supplier Foxconn posted a record profit for last quarter after it ramped up operations for iPhone 5 manufacturing, Bloomberg reported today.

Hon Hai Precision Industry Co., better known by its trade name Foxconn, reported a fourth-quarter net income of $1.2 billion (NT$37 billion), exceeding analysts' expectations.

Faced with a high demand for the iPhone 5, the factory group had to smooth out production problems that lead to stalled shipping times for the smartphone . The result was raised revenues and margins, according to Bloomberg.

Featured Video
6
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

As Xbox One gets a little sweeter, HoloLens gets Xbox Live

Microsoft announces new features coming to Xbox One, including the ability to record TV shows. Also, the company opens up Xbox Live to HoloLens programmers.

by Bridget Carey