Taiwan's Hon Hai 2Q profit down 23%

Aug 31, 2011
Workers walk in front of Taiwanese electronics giant Hon Hai's headquarters in Tuchung city. Hon Hai Precision, the world's biggest contract electronics maker, said Wednesday net profit fell 23 percent in the three months to June mainly due to a tax on retained earnings.

Taiwan tech giant Hon Hai Precision, the world's biggest contract electronics maker, said Wednesday net profit fell 23 percent in the three months to June mainly due to a tax on retained earnings.

Hon Hai, which makes a wide range of products including Apple's and and phones for Sony and Nokia -- said net profit in the second quarter fell to Tw$12.9 billion ($447.9 million), from Tw$16.75 billion a year earlier.

The figure marks a decline of 9.8 percent from the previous quarter when profit came in at Tw$14.4 billion.

However, revenues rose to Tw$785.9 billion, up from Tw$653.9 billion a year ago.

in the first half this year rose 1.8 percent from last year to 27.38 billion.

A tax on retained earnings means companies pay more if they decide not to distribute those earnings among shareholders.

Explore further: The top 10 highest-paid female CEOs

Related Stories

Taiwan Semiconductor profits up nearly 25%

Jan 27, 2011

Taiwan Semiconductor Manufacturing Co, the world's leading contract microchip maker, said Thursday its profits in the three months to December rose nearly 25 percent on the back of strong demand.

Taiwan's AU Optronics sees profit up 54.6 percent

Jul 28, 2010

Taiwan's AU Optronics Corp said Wednesday its net profit in the three months to June jumped 54.6 percent over the previous quarter, partly due to strong demand for high-priced items.

Parent of Taiwan's Foxconn enters solar power

Jan 26, 2011

The parent of Taiwanese IT giant Foxconn will pay over $130 million to become the major shareholder in a solar cell company as part of a plan to expand into renewable energy, officials said Wednesday.

Taiwan's HTC says profit down 30 percent

Apr 06, 2009

Taiwan's smartphone maker HTC Corp posted a year-on-year 30 percent fall in first quarter net profit as the global economic meltdown hit sales, the company said Monday.

Taiwan IT giant Foxconn beaten in solar cell deal

Jan 27, 2011

Inventec Corp, a leading Taiwanese notebook maker, said Thursday it had beaten IT giant Foxconn in buying a local solar cell company after offering a higher price at the last minute.

Recommended for you

The top 10 highest-paid female CEOs

2 hours ago

Female CEOs are outpacing their male colleagues in pay, although they remain vastly outnumbered in the top echelons of American companies.

After security scandal, a tech firm says it's changing focus

14 hours ago

A Silicon Valley startup says it's shutting down operations and shifting to a new business model after it was blamed earlier this year for turning unwitting computer users into targets for annoying web ads—and hackers.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.