Feeds

Nokia, Moto, Sony phone wing of Foxconn is soaked in red

Half-year loss sparks hunt for better customers

Website security in corporate America

Shares in Foxconn International Holdings slumped nearly 8 per cent today after the kitmaker reported a whopping loss for the first half of the year.

FIH, the bit of Hon Hai Group that works for Nokia, not Apple, has lost a record $226m so far this year as its star customer falters, compared to a loss of just $18m for the same time in 2011.

"During the first six months of 2012, we saw major changes in the handset ecosystem triggered by the end market volatility due to the European and global economic slow-down, the emergence of new service/applications-centric business models and resulting in our customers’ continuous struggle in their market share protection battle," FIH said.

The manufacturer's turnover also dropped almost 16.4 per cent to $2.5bn compared to $2.99bn in the first six months of last year.

FIH's customers are mobile-makers Nokia, Motorola and Sony/Sony Ericsson, while another unit of its sprawling Taiwanese parent manufactures kit for Apple and Samsung.

Unsurprisingly, the company said it was looking for new customers to help demand meet its capacity. FIH is also consolidating manufacturing sites and reorganising its business operations, but it said it was still "cautious" about the rest of the year.

FIH said: "Notwithstanding our continuous endeavours, at present, we still see tremendous challenges to restore our financial position to profitability by the end of 2012. Our strategy is to focus on new customers in smartphone sector." ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.