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.
Donna Tam Staff Writer / News
Donna Tam covers Amazon and other fun stuff for CNET News. She is a San Francisco native who enjoys feasting, merrymaking, checking her Gmail and reading her Kindle.
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.