Nokia to outsource less, Foxconn misses profit

Foxconn posted a net income of $57.3 million during the six months ended Dec. 31. This can be compared with a loss of $21.1 million a year earlier. Analyst estimated a profit of $85 million for Foxconn, according to Businessweek. Nokia which is the biggest customer for Foxconn said last year it will outsource less production to EMS providers and produce more products in-house due to rising competition in the smart phone business. Foxconn is looking for orders from other mobile phone manufacturers to fill the gap of the loss of business from Nokia, Businessweek reported.