Apple’s lead manufacturer Foxconn reported a 13 percent rise in net profit to 106.7B new Taiwan dollars (US$3.5B) following record iPhone and iPad sales, reports the WSJ. More than 40 percent of the company’s revenue comes from Apple.
The news comes a few days after Apple supplier Pegatron reported a 22 percent rise in earnings.
Hon Hai’s results were underpinned by demand from Cupertino, Calif.-based Apple, which sold 51 million iPhones in its fiscal first quarter ended Dec. 28, 2013—up 7% from the same period the previous year [...]
Apple also said it sold a record 26 million iPads in the quarter, compared with 22.9 million in the year-ago period …
Foxconn – the informal name for Hon Hai Precision Industry – is responsible for the bulk of Apple’s iPhone and iPad production, with secondary supplier Pegatron leading production of the iPhone 5c and iPad mini.
Foxconn is, however, looking to diversify its operations to reduce its dependence on Apple, investing almost $90M in new manufacturing and software development operations.
Apple reported record revenue of $57.6B for its fiscal Q1 2014 (calendar Q4 2013), with record sales of 51 million iPhones and 26 million iPads, alongside 6 million iPods and 4.8 million Macs.