Apple supplier Foxconn has record profit

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

(Credit: Josh Lowensohn/CNET)

Apple iPhone supplier Foxconn posted a record profit for its 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 US$1.2 billion (NT$37 billion), exceeding analyst 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. This resulted in raised revenues and margins, according to Bloomberg.

Via CNET.com



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