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Hon Hai’s Q3 Net Income Up 15%

Published: 29 October 2010
 by Staff

TAIPEI – Hon Hai (Foxconn) posted third-quarter unconsolidated sales of $21.7 billion, up 72% year-over-year, say reports.

Net income for the quarter was $685 million, up 15% compared to the same period in 2009, as a result of increased Apple iPhone and Dell computer sales.

Net income for the first nine months of 2010 was up 19% to $1.82 billion, while sales grew 63% to $52 billion compared to the same period last year.

This month the firm announced more than $350 million of new investments in China. It also recently raised wages there and began moving plants inland.

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