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Foxconn’s Q2 Profit Drops 23% on Higher Taxes

Published: 30 August 2011
 by Staff

TAIPEI – Foxconn said its second-quarter net profit fell 23% to $447 million year-over-year, as a result of higher taxes.

Revenue for the period went up 23% to $21.8 billion year-over-year.

The firm reported a first-half net loss of $17.65 million, compared to a loss of $142.6 million in the same period of 2010. The company's first-half revenue fell 7.3% to $3 billion.

Foxconn is the world's largest printed circuit board assembly company and among the top 10 in PCB fabrication.

The contract electronics manufacturing giant is nearing completion of an expansion of production facilities in inland China from Shenzhen.

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