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Electronics Production | January 26, 2010

Recession hits Foxconn

Taiwan based EMS provider Foxconn International Holdings Ltd. said it will post a significant decline in its full-year profit.

Full-year profit in 2009 will fall from 2008 as the global recession eroded demand for phones and lowered prices of its products, Foxconn said. The share fell more than 10 percent on the Hong Kong stock market, the most since March 2009.
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