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.

 

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