Foxconn International Holdings Ltd, the world’s biggest contract maker of cell phones, posted its worst-ever first-half net loss due to dismal orders from key clients such as Nokia Oyj hit by the economic slowdown.
FIH warned uncertainties in global handset demand were dimming its outlook for the rest of the year and said management would focus on cutting costs in the handset sector, plagued by cut-throat price competition as vendors battle for market share.
FIH, whose parent Foxconn Technology Group helps assemble Apple Inc’s iPhones and iPads, reported a net loss of $226.07 million for the January-June period, starkly bigger than a $17.65 million loss a year earlier, it said in a statement.
FIH itself does not make Apple products.