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Foxconn Posts $218 Million Full-Year Net Loss

btarunr

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#1
The year 2010 was an extremely difficult year for Foxconn. We saw major changes in the handset ecosystem triggered by entry of new players, introduction of new software and applications, as well as emergence of new business models. Market dynamics shifted drastically and created tough challenges for some industry players as well as the Company.

Despite our continual efforts to further diversify customer base and sources of revenue, the operation results for the Company concluded less than satisfaction. Revenue for the year 2010 was US$6,626 million, which represents a change of US$588 million, or 8.2% less than the prior year revenue of US$7,214 million.

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FreedomEclipse

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#2
no shit, 2010 hit everyone hard. but i half expected Foxconn to come through it a little easier as they have their fingers in just about anything that involes technology in general.

One of the biggest changes to foxconn in 2010 was they started making enthusiast motherboards. unfortunately despite having positive reviews, overclockablity was still an issue with their boards.

I hope they have a better year.
 
T

Taskforce

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#3
Babylon system falling down, economy wont get better only worst or stabilize.
 
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#4
That's what you get when you treat your employees like shit. Karma, ever heard of it, Foxconn?!? :mad:
 

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#5
how can you lose 218 million and still be in business
 

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#6
how can you lose 218 million and still be in business
the better question is how can a company be so deeply embedded in the tech market yet post a huge loss
 
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#7
I entirely blame Apple.
 
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#8
how can you lose 218 million and still be in business
alice-in-wonderland
The bank is my friend
The bank is my friend
The bank is my friend
/end alice-in-wonderland

Anything is possible in almost any market, when there's some clout behind you, based on previous or historic performance.
In time to come, I'm sure Foxconn will do just fine again.
The economic down-turn has hit everyone hard. It's just more obvious with the smaller players in the field..
And.. we all still need sockets made by someone, even if this someone no longer plays [m]any other fields ;)
 
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#10
Babylon system falling down, economy wont get better only worst or stabilize.
Babylon = Foxconn?

Which company deserves any better that to make loss of 8.2% if they are in the sportlight of the TPU news moderator AND even official newspapers for having one of the worst working condition in the Computer-industry.

I know about news telling some China factory workers kill themselfs, 2 or something in a row, since the conditions in that Foxconn run facility are soooo inhumany.
Maybe some still remember this stuff...

So I concluded I couldn´t care less about Foxconn going down slowly.
Man! Even their hardware is not worth buying :mad:
And even if I would think about aiding that company in any way.
 
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#11
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#12
Last time I checked, Foxconn had over ~920,000 employees, not ~127,000.

I haven't read the article in depth.
 
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#13
Foxconn has almost a million employees throughout 13 different factories, and it's the world's largest PCB assembler.


Even thinking that Foxconn going down is a "good thing" means pure ignorance of the company's importance in our daily lives.
The same could be said of Nokia, Microsoft or TSMC.
If one of those disappeared all of the sudden, the world would stand still and we'd fall into an era of technological regression.


AthlonX2 said:
how can you lose 218 million and still be in business
You don't think of it that way, in a company of this dimension. It's not like this is a cake store losing 218 million.
218 million is but 3,3% of the company's 2010 revenue. I'm pretty sure they're sitting on cash reserves that could cover ten times that net loss.
Besides, the company went under major structural changes, so additional expenses for 2010 were expected.