Hon Hai unit’s 2014 profit doubles – Mobile World Live

Hon Hai unit’s 2014 profit doubles

23 MAR 2015
Foxconn

Taiwan’s FIH Mobile (formerly Foxconn International Holdings), a subsidiary of Hon Hai Precision, reported its net profit last year jumped 118 per cent to $169 million (TWD5.3 billion) on strong demand for smartphones from Apple and Chinese vendors.

The Hong Kong-listed company, 70 per cent owned by Hon Hai, said revenue increased 36.7 per cent to $6.83 billion.

It said more customers are adopting metal casings, which has boosted its gross margin.

Asian customers accounted for 62 per cent of revenue, buyers from the Americas represented 26 per cent cent, and clients from Europe made up 12 per cent, China Post reported.

Analysts said that the strong profit growth is expected to give Hon Hai’s earnings a boost this year. The parent has not reported its 2014 results.

Hon Hai, the world’s largest contract electronics maker, is estimated to assemble 70 per cent of Apple’s iPhone 6 models, while the Taiwanese firm is the sole assembler of the iPad Air 2.

It also handles smartphone orders from Xiaomi, Huawei and Sony.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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