© Electronics Production | March 23, 2012

Profit in 2011 for Foxconn's handset unit

Foxconn International Holdings, a company under Foxconn Technology Group, returned profit in a competitive 2011 financial year, following cuts in excess production and R & D .
The company reported a net profit of 72.8 US million dollars was up 133 percent from last year’s 218 US million loss. The figures are for the 2011 financial year ended Dec. 31.

In a financial statemetn, the comapny said that competition for OEM market share was strong in 2011 and it continued to divest less-utilized equipment and manufacturing resources in response. The company also cut back on R & D in some areas.

Smart mobile devices are expected to receive the most attention from consumers in the next year, but Foxconn said it expects the market to remain volatile.


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