Taiwan’s media reported that Foxconn (Hong Hai Precision) announced today its December financial revenue report.
Foxconn’s revenue for the month was NT$244.68 billion (US$8.36 billion), an increase of 5.5% from the previous quarter and a year-on-year increase of 83.8%. In 2010, unconsolidated statement income reached NT$2.31 trillion, a year-on-year increase of 62.83%.
Despite the strong revenue growth, it is not clear that the industry believes that its profits will show similar growth.
Since Foxconn started a new minimum wage standard system in October 2010, the industry believes that Foxconn's profit margin will face downward pressure. However, Foxconn’s net profit will recover next year with the launch of its production line in the west of the mainland and the arrival of new orders.
Foxconn’s revenue for the month was NT$244.68 billion (US$8.36 billion), an increase of 5.5% from the previous quarter and a year-on-year increase of 83.8%. In 2010, unconsolidated statement income reached NT$2.31 trillion, a year-on-year increase of 62.83%.
Despite the strong revenue growth, it is not clear that the industry believes that its profits will show similar growth.
Since Foxconn started a new minimum wage standard system in October 2010, the industry believes that Foxconn's profit margin will face downward pressure. However, Foxconn’s net profit will recover next year with the launch of its production line in the west of the mainland and the arrival of new orders.
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