Ron Burgundy Posted August 13, 2014 Share Posted August 13, 2014 By Michael Gold TAIPEI (Reuters) - Taiwan's Hon Hai Precision Industry Co Ltd reported a third consecutive quarterly profit gain Wednesday as the world's largest contract maker of electronic goods continued to benefit from demand for products from No.1 client Apple Inc. Hon Hai, also known as Foxconn, earns as much as 50 percent of revenue assembling Apple devices such as iPhones and iPads, analysts say. In the meantime, the widely expected release in the coming months of larger-screen iPhones will keep Apple as Hon Hai's biggest cash cow for the foreseeable future, according to company-watchers. Still-hot sales of iPhones drove Hon Hai's net profit in April-June to T$20.19 billion ($673 million), versus the T$17.66 billion mean estimate of 13 analysts polled by Reuters. Shares of Hon Hai closed up 1.4 percent before the earnings release on Thursday, versus a 0.7 percent rise in the benchmark TAIEX index. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.