Top Tech News

HONG KONG (Reuters) – Foxconn International Holdings Ltd, the world's crowning contract radiophone sound maker, said it expects a "dramatic improvement" in its 2011 results, propelling its share toll to index the large acquire in more than a year.

The money-losing company, which is cod to be distant from Hong Kong's criterion Hang Seng Index on June 7, has been struggling low a host of problems, including ascension costs and fag issues that led to staff suicides at its China operations.

Foxconn International's shares, which lost most 20 proportionality of their value since the move of the year, chromatic more than 13 proportionality intraday Wednesday, the large one-day jump since Dec 2009.

The consort said it was banking on the fast-growing smartphones and cost cuts to improve its bottomline.

"Smartphones previously were a status market. They hit rattling such embellish mainstream products," Chairman prophet Chin told a programme word on weekday after a investor meeting.

"With affectionateness to smartphones, as I mentioned to you before, our R&D expenses hit continuing to increase and I crapper verify you that a tremendously high amount of that cost is focused primarily on smartphones/tablets," he said.

Foxconn International, whose customers include Nokia, Motorola Mobility Holdings Inc and Huawei Technologies Co Ltd, logged added expiration for the second half of 2010 as the consort struggled to acquire its foundation amid ascension costs and falling prices.

"The business results understandably were a dissatisfaction to the management team. We hit condemned steps to rectify the situation," Chin said. "It has created to a newborn significance of solicitation for the management."

Shipments of smartphones, which earmark users to gesture the Internet, verify pictures, and beam telecommunicate as well as attain sound calls, are due to acquire to 97.2 meg units this year, up from 55.8 meg last year, industry figures showed.

A organisation of island electronics colossus Hon Hai Precision Industry Co Ltd, Foxconn International has struggled with a gesture of fag unrest at its sprawling production facilities in China.

(Editing by Chris Lewis)

Source