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iPhone sales help boost Hon Hai/Foxconn Q2 profits 41 percent

updated 03:45 pm EDT, Tue August 13, 2013

Apple products account for over 40 percent of revenue

Hon Hai, better known as Foxconn, posted a 41 percent year-over-year increase in net profits during its second quarter, according to the Wall Street Journal. Net profits for Q2 2013 were NT$16.98 billion, or about $566.7 million US. In the same quarter of 2012, profits were NT$12.06 billion. The average forecast for this year had been NT$16.32 billion.

The company's performance is being attributed to strong sales of the iPhone. Apple accounts for over 40 percent of Hon Hai revenue, and beat a June quarter record this year by shipping 31.2 million iPhones. Aside from the iPhone, Hon Hai also handles most of the world's iPad production.

The company's fortunes are riding heavily on what Apple plans to launch this fall. Not one but two new iPhones are expected next month, although one of these -- the 5C -- will likely be assembled entirely by Pegatron. A fifth-generation iPad and a second-gen iPad mini should follow shortly after.



By Electronista Staff
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  1. lkrupp

    Junior Member

    Joined: 05-13-01

    All this profit made off of a failed company.

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