New iPhone models, PS4 improve profits at Hon Hai/Foxconn

11/13/2013 | Bloomberg

Hon Hai Precision Industry, the contract electronics manufacturer, said net income in the third quarter was up 1.6% from a year ago to $1 billion, higher than what analysts were expecting. Sales, however, came in lower than the average analyst estimate. "Operating margins were helped by the introduction of new products including the iPhone and Sony’s upcoming games console," said Gokul Hariharan of JPMorgan Chase.

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