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March 26, 2013

Foxconn’s Q4 profit rises on Apple’s iPhone sales

The company's net income increased 16% to $3.2bn for the full year 2012

By CBR Staff Writer

Hon Hai Precision Industry, also known as Foxconn Technology, has reported a 5.6% rise in its net income to $1.2bn for the fourth quarter of 2012, driven by the sales of iPhones and iPads.

The company reported a 6% rise in its revenue to NT$1.14 trillion for the quarter.

For the full year 2012, the company’s net income increased 16% to $3.2bn and sales rose 13% to NT$3.9 trillion, when compared to last year.

According to some estimates reported by the BBC, orders from Apple account for almost half of Foxconn’s total revenue.

Apple’s iPhones sales increased to 47.8 million units for fiscal first quarter of 2013, compared to 37 million units in the year-ago quarter.

Earlier this month, Foxconn revealed plans to hire about 5,000 people from Taiwan to develop new automation, robotics and e-commerce for assembly manufacturing.

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