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Foxconn Declares NT$27.39 Billion Net Profits In First Half of 2011 - iPad in Canada Blog - Canada's #1 iPad Resource iPad in Canada Blog – Canada's #1 iPad Resource

Foxconn Declares NT$27.39 Billion Net Profits In First Half of 2011

by on September 2nd, 2011

It appears that Foxconn has already had some pretty huge profits this year totaling a whopping NT$27.39 billion in the first half alone, thanks to the tremendous sales of Apple’s iPhone 4 and iPad 2. For those who aren’t aware, Foxconn Technology Group is a large contract manufacturer for many European and American companies including Apple for whom it manufactures iPhone as well as the iPad. The manufacturing giant is headquartered in Taiwan and is also the largest exporter in China

Digitimes reports:

Foxconn Electronics (Hon Hai Precision Industry) has announced net profits of NT$27.38 billion (US$945.93 million) for the first half with EPS down 20% on year to NT$2.58.

For the third quarter, Foxconn is expected to ship 20 million units of iPad 2 to Apple, a growth of 60% sequentially, and the orders should be the major growth driver for the company in the second half. However, Foxconn has declined to comment on a specific client.

Foxconn also makes consumer electronics for a number of well-known companies, including Acer, Asus, Intel, HP, Dell, Nokia as well as Microsoft.

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Posted under: iPad News