TAIPEI – Hon Hai Precision Industry (the trade name of Foxconn) reported net profit of $540 million for its third quarter, down 10% year-over-year, but beating market expectations.
 
Forecasts earlier predicted profits of $507 million for the quarter.
 
The world's largest vertically integrated EMS/ODM that's footprint includes PCB Fab manufacturing locations in China did not cite reasons for the decline in earnings.

In July 2008 Foxconn began moving factories from the Shenzhen area to the northern Chinese provinces of Hebei and Shanxi, where lower salaries (60% less than Shenzhen) were expected to help improve company profit.

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