Hon Hai profits soar
 

Hon Hai, which supplies iPhone products to Apple, said its net profits rose by 11 percent for its financial third quarter.

And revenues rose by 12 percent, largely as a result of increased manufacturing of iPhone during the quarter.

Hon Hai, also known as Foxconn, is an original design manufacturer (ODM) not just for Apple, but for smartphones, servers and computers.

Other customers include HP, Sony, Huawei, Xiaomi and OnePlus.

During the financial quarter, it turned in gross margins of 7.2 percent.

The Taiwanese company has been dogged by controversy in the past following a spate of suicides at its Chinese factories.

http://www.techeye.net/business/hon-hai-profits-soar