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.
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 . The result was raised revenues and margins, according to Bloomberg.