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Electronics Production | July 24, 2009

Foxconn with warning on 1H/2009 results

EMS-provider Foxconn issued a warning that it expects a significant decline in its 1H earnings and might record a loss. This was attributed to lower demand.

Christine Wang, analyst with HSBC in Taiwan, told Reuters that their "estimates are 30% below consensus but the company seems to have done even worse". It was also noted that the company might have to deal with Nokia's decision to skip EMS-providers in favour of going In-House again. Foxconn is EMS-partner to such companies as Apple, Nokia and Sony Ericsson.
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