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Foxconn 2008 Profits to Decline Dramatically

Sohu IT, 1/20/09

Consumer electronics outsourced manufacturing firm Foxconn Technology Group (2038.HK; 2354.TW) has announced that it anticipates a sharp year-on-year decline in profits for the quarter ending December 31, 2008.

The company's board of directors believes the decline in profits came about mainly as a result of changes to its product portfolio and the overall global economic decline. The group's relocation of some of its plants and its global reorganization also led to a rise in operating costs.

Keywords: 2038.HK 2354.TW consumer electronics Foxconn hardware contract manufacturer profit

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