Shares in Taiwan's Hon Hai rise after record profit

March 26, 2013

Shares in Taiwan's Hon Hai Precision, better known as Foxconn, closed 1.33 percent higher Tuesday at Tw$83.5 ($2.80) after the tech giant reported a record net profit last year.

Investors were reacting to the firm's announcement late Monday that surged 16.14 percent to Tw$94.76 billion ($3.18 billion) in 2012. Revenue rose 13.11 percent year-on-year to Tw$3.9 trillion.

In the three months to December, net profit rose 22 percent year-on-year to Tw$36.97 billion while sales jumped 30 percent to Tw$1.14 trillion.

The conglomerate is the world's largest computer component manufacturer and assembles products for Apple—including the —as well as Sony and Nokia.

It employs about one million workers in China, roughly half of them based at its main facility in .

Explore further: Taiwan's Hon Hai 2012 sales up 16 percent

Related Stories

Taiwan's Hon Hai 2Q profit down 23%

August 31, 2011

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.

Parent of Taiwan's Foxconn reports profit drop

October 31, 2011

The parent of Taiwan technology giant Foxconn, which makes iPads and iPhones for Apple, said Monday its third-quarter profit dropped, with analysts pointing to the cost of moving factories in China.

Taiwan's HTC expects 30 percent sales plunge in 1Q

February 6, 2012

Taiwan's leading smartphone maker HTC forecast Monday that its revenue in the three months to March may plunge 30 percent from a year ago, as competitors Apple and Samsung take their grip on the market.

Taiwan Semiconductor profits up nearly 25%

January 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.

Recommended for you

'Droneboarding' takes off in Latvia

January 22, 2017

Skirted on all sides by snow-clad pine forests, Latvia's remote Lake Ninieris would be the perfect picture of winter tranquility—were it not for the huge drone buzzing like a swarm of angry bees as it zooms above the solid ...

Singapore 2G switchoff highlights digital divide

January 22, 2017

When Singapore pulls the plug on its 2G mobile phone network this year, thousands of people could be stuck without a signal—digital have-nots left behind by the relentless march of technology.

Making AI systems that see the world as humans do

January 19, 2017

A Northwestern University team developed a new computational model that performs at human levels on a standard intelligence test. This work is an important step toward making artificial intelligence systems that see and understand ...

Firms push hydrogen as top green energy source

January 18, 2017

Over a dozen leading European and Asian firms have teamed up to promote the use of hydrogen as a clean fuel and cut the production of harmful gasses that lead to global warming.

0 comments

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.