Foxconn makes loss

Posted by Andrea Petrou

Foxconn made a loss in 2012.The company, which makes mobile parts for the likes of Apple, Nokia Oyj and Huawei Technologies, said it made a net loss of $316.4 million last year, which it put down to weak orders from its big companies.  

This was in contrast to a booming 2011 when the company had boasted a net profit of $72.8 million.

The company's turnover also shrank in 2012, where it earned $5,239,800 in comparison to  $6,354,417 in 2011.

And it also seems to be trying to distance itself from its unlisted parent company Foxconn Technology Group, which is well known for its not too friendly treatment of employees.

In a statement today the company said it had proposed to change its name to FIH Mobile Ltd.

The Proposed Changes are subject to the passing of a special resolution by the
Shareholders at the AGM and must be granted by the Registrar of Companies in the Cayman Islands, the statement said.