Contracts lift earnings to US$718m
Foxconn International Holdings, the world's biggest contract mobile-handset maker, said net profit last year jumped 86 per cent after it doubled sales in Asia, where the soaring economy continued to fuel demand for mobile telephones.
Profit rose to a record US$717.85 million from US$382.93 million in 2005, Foxconn said yesterday. Revenue soared 63 per cent to US$10.38 billion from US$6.36 billion.
'We ... continue to streamline our business to improve our efficiency and competitiveness,' Foxconn said.
The company and other handset makers benefited from more outsourcing contracts of handset production by global vendors, such as Nokia and Sony Ericsson, to Asia suppliers.
The company's mass production base in India started operations in the second half last year, Foxconn said. It also expanded strategic investments into Brazil, Russia, India and the mainland.
Sales almost doubled to US$6.4 billion last year from US$3.3 billion a year ago in Asia, from which it earned US$615 million, up from US285.8 million.
