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Foxconn profits rise 13 percent on iPhone and iPad sales

updated 01:07 pm EDT, Fri March 28, 2014

Bulk of manufacturer's revenue tethered to Apple

Taiwan-based manufacturer Hon Hai -- better known as Foxconn -- saw its profits rise 13 percent last year to $3.5 billion, something attributed mainly to record iPhone and iPad sales, according to the Wall Street Journal. Foxconn is closely linked to Apple, deriving over 40 percent of its revenue from Apple orders. As such, any fluctuation in iPhone and iPad sales can dramatically affect its income.

Foxconn is in fact said to be looking to diversify its business to reduce its dependence. In recent times, the company has invested almost $90 million in new manufacturing and software development efforts.

In the December quarter, Apple posted revenue of $57.6 billion based on sales of roughly 51 million iPhones and 26 million iPads, as well as 4.8 million Macs. Apple's size and performance are such that while Foxconn is its primary manufacturer, it also relies on companies like Pegatron to fill in gaps. Pegatron is responsible for assembling the iPhone 5c and iPad mini.



By Electronista Staff
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