Nokia, Moto, Sony phone wing of Foxconn is soaked in red
Half-year loss sparks hunt for better customers
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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." ®
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COMMENTS
Elop Effect?
Certainly Flop's affected many companies and people here in Finland. Now he's reaching as far as China...
but
but according to Anna, the only company to rebrand the output from Foxconn are Apple
Re: Nokia?
The dispute is still going on. So the website isn´t complete(d).
The problem is that I´m from the dutch part of Belgium so the conversations are, unfortunately for you, in dutch. You can't expect local dutch companies to talk english so others could actually understand what's going on. Besides they don't even want ME to understand what's going on.
I have translated the first page and posted this to the official Nokia.support forum though.
http://discussions.nokia.com/t5/Nokia-with-Windows-Phone/exorbitant-repair-fee-asked-to-repair-a-Lumia-800/m-p/1516988#M18539
The top of that page shows what it's all about. Again since this is still ongoing I've not put it on that antinokia-website (yet). I am willing to give Nokia a change to redeem themselves. Although I have no hope of ever retreiving this device (even unrepaired) nor can't I be bothered to spend ANY money for this aborted WP7 crap which can't do the things I need in the first place. Since further updates to WP7 are only cosmetic updates it'll remain a crippled defunkt and useless system. Good enough for facebook jocks but unsuitable as a professional communications tool.
Unfortunatly since 499 euro is a lot of money to loose I can't buy a nother supposedly high-end phone. So that LG 4X HD (the most affordable o/t current Tegra 3 droids) that I wanted to buy instead will have to wait to next year.
Cheers.
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