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Posts Tagged ‘Hon Hai Precision’

Sony and Sharp joint venture hits a rocky patch, Sony cuts off capital

Wednesday, March 28th, 2012
Sharp Plant

When Sharp sold off some of its LCD manufacturing business to Hon Hai Precision we knew the company had fallen on tough times, we just didn’t realize how bad things truly were. That joint venture it formed with Sony, well, it’s all but over at this point. The two companies have amended their deal with each other and Sony has decided not to inject any more capital into the project. That’s not entirely surprising since the relationship was already starting to show signs of strain, but the partnership could crumble at any moment. A study period has been designated, through the end of September, to decide what the future holds for the two regarding the production and purchase of large panel LCDs, but at any time Sony can simply demand that Sharp buy back its shares and leave the venture. For Sharp’s sake, we certainly hope Hon Hai is in this for the long haul. Check out the legalese stuffed PR after the break.

Continue reading Sony and Sharp joint venture hits a rocky patch, Sony cuts off capital

Sony and Sharp joint venture hits a rocky patch, Sony cuts off capital originally appeared on Engadget on Wed, 28 Mar 2012 18:52:00 EDT. Please see our terms for use of feeds.

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Foxconn owner Hon Hai reports huge revenue growth in January

Wednesday, February 15th, 2012

Hon Hai Precision Industry Company, Ltd., parent company of original device manufacturer Foxconn, reported huge revenue growth of nearly 50% for the month of January, Taiwan Economic News reports. The manufacturing giant enjoyed performance that beat forecasts last month, with revenue ballooning 47.9% year-on-year to NT$274.6 billion, or approximately $9.1 billion USD. Revenue was down 13.3% sequentially after a big December capped off a hot holiday quarter, but the seasonal decline was expected and well below the average 20% fall off Hon Hai typically sees between December and January. Hon Hai’s nearest competitor Quanta Computer saw revenue grow 2% to NT$78.3 billion in January, and rival Compal Electronics reported a dip of 22% to NT$43.7 billion in January.


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Apple to ship more than 20 million iPad 2 tablets in Q3

Friday, September 9th, 2011

Those who follow technology press closely were disappointed to learn that a revamped iPad rumored to launch this fall — possibly a “Pro” model with a Retina Display — is likely not going to become a reality. Apple never made any official mention of the device, of course, so we have no way of knowing whether or not earlier rumors were accurate. What we can seemingly say, however, is that consumers don’t seem to care. Apple continues to sell iPad 2 tablets as fast as its manufacturing partners can ship them, and a new report from Taiwan Economic News on Friday suggests Apple continued to see unprecedented demand so far this quarter. Read on for more.

Without specifying the source of its report, Taiwan Economic News states Apple’s main iPad supplier, Foxconn-owner Hon Hai Precision Industry Co., has revised its third-quarter iPad 2 shipment estimates up to more than 20 million units. The firm had previously projected that shipments would total 14 million units according to the report.

During its last earnings call, Apple said it sold 9.25 million iPads in its June quarter. It should be noted, however, that iPad 2 supply did still fall short of demand at times in several regions during that period. If shipments of Apple’s popular tablet are finally able to meet or surpass demand, third-quarter iPad sales — which would correspond with Apple’s fourth fiscal quarter — could balloon significantly.

Apple will report its September-quarter earnings next month.

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Taiwan capital cuts maximum working hours for laborers as Hon Hai reports 41% revenue growth

Thursday, April 14th, 2011

It’s no wonder why Foxconn is considering moving some facilities outside Taiwan and China and into other countries like Brazil. Beyond the potential tax benefits for the manufacturer and its clients, China and Taiwan are finally beginning to address problems surrounding the working conditions its citizens have endured in recent history. Forced wage increases and other recent moves such as Taipei City’s decision on Tuesday to slash the maximum monthly working hours from 312 to 260 for some laborers threaten to spill over into other regions and industries. For Foxconn and parent company Hon Hai Precision Industry Co. Ltd. — which just revealed March revenue of NT$214.9 billion ($7.39 billion USD), up 41% over February — the financial impact of these moves on the bottom line could be massive. It will be interesting to see how Chinese President Hu Jintao receives Brazilian President Dilma Rousseff as they discuss shifting billions of dollars out of China and into Brazil.


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iPad maker Foxconn could spend $12B on new plants in Brazil

Tuesday, April 12th, 2011

Hon Hai Precision Industry Co. Ltd.-owned Foxconn is considering spending up to $12 billion on new facilities in Brazil that would help the electronics manufacturer’s clients avoid high import taxes on devices shipped to key markets from China and Taiwan. The move would also potentially help the manufacturer avoid some of its rising labor costs in China. The Brazilian government says it is currently studying Foxconn’s plans, and the country’s President Dilma Rousseff is overseas discussing this and other matters with Chinese President Hu Jintao. “You’ve got an ample range of investments that go from $300 to $400 million to $12 billion over 5 to 6 years in the case of Foxconn,” Rousseff told Reuters. “They’re proposing a partnership. They came to us and said we want to invest in Brazil.” Foxconn could start building devices like Apple’s iPad in Brazil by the end of November according to Aloizio Mercadente, Brazil’s science and technology minister.


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Top Chinese official calls for improved worker conditions in response to Foxconn deaths

Sunday, May 30th, 2010

The highest ranking official in the Guangdong province of China has called for improved conditions for workers in light of the recent slew of suicides at Hon Hai Precision Manufacturing, also known as Foxconn. Wang Yang, the provincial party secretary in the province where the suicides have taken place, said that the government must work together with the company to “take effective measures to prevent similar tragedies from happening again,” While it’s still not clear what is causing the deaths, Wang called for measures such as increasing sports and leisure activities for the workers, and improving communication between worker and employer. “Labor unions in private firms should be improved to facilitate better working conditions and more harmonious relations between workers and employers,” he said, speaking at a conference in Shenzhen on Saturday, just about one day after Foxconn announced it would increase wages of workers up to 20 percent.

Top Chinese official calls for improved worker conditions in response to Foxconn deaths originally appeared on Engadget on Sun, 30 May 2010 14:47:00 EDT. Please see our terms for use of feeds.

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Foxconn Workers Receiving 20 Percent Salary Increase [Foxconn]

Friday, May 28th, 2010

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