Foxconn Posts Net Profit of $72.8 Million in 2011

Despite the ongoing criticism that the company has faced over the past several months, Reuters reports that Foxconn has posted a net profit of $72.84 million for 2011, which beat analysts’ predictions of $27.59 million. Foxconn is the world’s largest contract manufacturer of cellphones and assembles a wide variety of consumer electronics for tech giants such as Apple, Microsoft, Nintendo, Motorola, Sony, and Nokia…

“Our efforts in capacity optimization in various geographical locations and new customer penetration started to create positive impact to our operation results,” it said in a filing to the Hong Kong stock exchange.

Foxconn International is headquarter in Taiwan, but has manufacturing plants located across mainland China. At the end of 2011, it had a total of 98,868 employees.

[Reuters]

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