Foxconn announces $226 million half-year net loss, blames usual suspects

Manufacturing behemoth Foxconn (Hon Hai) has announced a record net loss of $226 million on turnover of $2 billion for the first half of the year. Unsurprisingly, it attributed the loss to the European debt crisis, global economic slowdown and its customers "continuous struggle" for market share. While it made a big push to encourage new customers, capacity far outstripped demand. In order to stem the tide, it's relocating some of its Shenzen-based facilities to sites in Northern China -- and it's also in talks with carriers to become an ODM, building white-label smartphones in the same way that Huawei and ZTE do. While the loss isn't a rosy picture, the company does have nearly $2 billion stashed in the bank, so it shouldn't be worrying too much.Filed under: Cellphones, Tablets, MobileFoxconn announces $226 million half-year net loss, blames usual suspects originally appeared on Engadget on Tue, 28 Aug 2012 06:05:00 EDT. Please see our terms for use of feeds.Permalink Reuters  |  Foxconn (PDF)  | Email this | Commentstop online coupons to receive 98 5 07 diesel cumminsm increase milage buy cheap top online coupons to receive gearwrench 9901 flex head combination ratcheting b top online coupon to receive cardone 15 4306 remanufactured brake caliper buy ch top online coupon to receive street scene 950 72119 universal fiberglass buy che top online deals of bondhus briteguard plated balldriver l wrench buy cheap 2012 top online deals of earls at101286erl ano tuff fuel line buy cheap 2012 amazon top online printable coupons available for permatex 25104 4pk orange pumice clea top online printable coupons available for warn 66355 warn tire carrier buy chea top origins coupons of 3m 01072 hookit p500a dust free buy cheap 2012 amazon top origins coupons of star strtu1552 global diesel adapters buy cheap 2012 amaz top printable coupons 2031 for many allstar performance all18207 air rivet buy c top printable coupons 2031 for many otc 1784c 12 ton ratchet stands buy cheap 20 top printable coupons and deals available for esco esc70150 slide hammer buy che top printable coupons and deals available for ingersoll r145 kl2 7 2 volt 8 inch top printable coupons just for equus 3568 digital inductive pick up buy cheap 20 top printable coupons to 453313k capacity heavy duty industrial bottle buy cheap top printable coupons to car worx molding metallic impreza buy cheap 2012 amazon top printable coupon to obtain industries jdi 6ev gallon fluid evacuator buy che top printable online coupons over cardone 15 4149s remanufactured brake caliper top printable online coupons over gearwrench 85288 metric combination ratcheting top printable retail coupons to receive flywheel gr wheel lt grey buy cheap 2012 top printable retail coupons to receive warrior 1987 2006 wrangler unlimited war top printable store coupons just for mcgard 69422 chrome cone style buy cheap 20 top printable store coupons just for mercury comet door automatic carpet buy che top printable suitable for probe master test lead retractable buy cheap 2012 ama top printable suitable for rds rectangular auxiliary transfer fuel buy cheap 201 top print coupons over anest iwata iwa4757 w400lv 134g spray buy cheap 2012 amaz top print coupons over national cycle n21903 switchblade windshield buy cheap 20 top print free just for anest iwata iwa5730 lph440 gravity buy cheap 2012 amazon top promo codes on jeepers creeper blue plastic profile buy cheap 2012 amazon