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NewsPoster Aug 13, 2013 03:46 PM
iPhone sales help boost Hon Hai/Foxconn Q2 profits 41 percent
Hon Hai, better known as <a href="">Foxconn</a>, posted a 41 percent year-over-year increase in net profits during its second quarter, according to the <em>Wall Street Journal</em>. Net profits for Q2 2013 were NT$16.98 billion, or about $566.7 million US. In the same quarter of 2012, profits were NT$12.06 billion. The average forecast for this year had been NT$16.32 billion.<br /><br />The company's performance is being <a href=" u=yahoo&mod=yahoo_hs" rel='nofollow'>attributed</a> to strong sales of the iPhone. Apple accounts for over 40 percent of Hon Hai revenue, and beat a June quarter record this year by shipping 31.2 million iPhones. Aside from the iPhone, Hon Hai also handles most of the world's iPad production.<br />
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The company's fortunes are riding heavily on what Apple plans to launch this fall. Not one but <a href="" rel='nofollow'>two new iPhones</a> are expected next month, although one of these -- the 5C -- will likely be assembled entirely by Pegatron. A <a href="" rel='nofollow'>fifth-generation iPad and a second-gen iPad mini</a> should follow shortly after.
lkrupp Aug 13, 2013 05:01 PM
All this profit made off of a failed company.
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