Foxconn posts record Q4 profit

  • Hon Hai Precision Industry, a major assembler of Apple products, posted record quarterly profits on Tuesday.

    The rise comes on the back of growing demand for iPhones and iPads.

    The Taiwanese firm, also known as Foxconn Technology, reported a net profit of $1.2 billion.

    It also posted a 16 percent increase jump in full year profit for 2012 to $3.2 billion.

    Foxconn is the world's largest contract electronics maker and boasts Apple as one of its biggest clients.

    According to estimates, orders from Apple make up nearly half of Foxconn's total revenue.