Saturday, November 10, 2007

Hon Hai posts Q3 net gains on orders from Apple, Dell

Thursday, November 1, 2007

TAIPEI, Taiwan -- Hon Hai Precision Industry, Taiwan's top electronic parts maker, posted a 28 percent gain in third quarter profit, in-line with analyst expectations, on stronger demand for its popular products such as Apple's iPhone.

Hon Hai's July-September net income was NT$19.9 billion, higher than NT$15.5 billion a year ago, according to Reuters. The result roughly matched a NT$19.3 billion net projected by seven analysts.

Hon Hai, whose consumer unit uses the Foxconn brand name, makes products for major brands such as Apple, Dell, Hewlett-Packard and Nokia. Analysts said consumer products such as music players and game consoles were the key driver to the firm's growth so far this year.

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