Foxconn Result 06/04/2017

By Yvette Raikes

Foxconn Electronics (Hon Hai Precision Industry) posted record Q4 net profits of NTD68.77 billion ($2.3 billion), up 30% from NTD52.93 ($1.7 billion) in Q4 ’15, on turnover which fell 2% to NTD1.4 trillion ($46.1 billion). For the year, profits were up 1% to NTD148.7 billion ($4.9 billion) on revenue of NTD4.4 trillion ($143.2 billion), down from NTD4.5 trillion ($147.3 billion). The company says it is optimistic for 2017 given the expected rise in orders of iPhone 7s and the new 10th anniversary iPhone.