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Electronics Production | April 29, 2009

Foxconn net income down 17%

Comparing the first three months of 2009 with the same period in 2008, net sales decreased by 7.9% to NT$ 277.9 billion; Net income dropped by 17.0% to NT$ 13.3 billion.
Hon Hai Precision Industry has announced its Non-consolidated results for three months ended March 31, 2009. Capitalizing on the intensifying competition in the branded OEM industries due to the trend of convergence, heightened environmental requirements from global awareness, ever shortening product life cycle stem from ever demanding consumer tastes and the U.S. sub-prime crisis led global economic uncertainty, the Company is pleased to report continued strong market share gain induced growth and the ever apparent synergistic benefits to strategic partner customers from the renown eCMMS model and the competitive advantages from the ever comprehensive globalize platform.

Looking forward, on the competitive advantage front, while steadfastly expanding the eCMMS coverage in mechanical, optical and electrical integration, and leveraging the overall platform’s after sales services and channel synergy, Company had also paced up its effort to unearth huge hidden wealth from intangibles through more aggressive legal efforts. On the industry trend front, the Company not only had greatly extended its capabilities by invest heavily into software, but also expands its unique “Share the Platform” Muster and Alliance program; calling out to ever expanding groups of worldwide peers who embrace the grand vision of making comfort of electronic products usage an attainable reality for all mankind. Together with these partners, Company expects to further raise the bar of its legendary ability to support and uncompromising commitment to customers.

"Despite the general uncertainty and a so-called challenging environment, under the back drop of an increase weighting in company’s consumer electronics business, the quarterly unconsolidated results were as expected and remain seasonal," said Edmund C.A. Ding, Spokesperson. "Furthermore, we are especially proud with our accomplishments in market share gaining which in maximizing our shareholders’ value and in promoting and assuring social and environmental responsibility as a priority in a total supply chain initiative. Aside from being a recognized EICC member, we determine to continue revolutionize the manufacturing services providing industry by not only strive for the best speed, quality, engineering services, efficiency and value-added, but also enforce social and environmental responsibility standard to maximize our stakeholders’ long term value at the same time.“

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