Foxconn's Gou says tough to cope with iPhone demand
TAIPEI (Reuters) - Taiwan's Foxconn Technology Group said on Wednesday the company's flagship Hon Hai unit is finding it difficult to cope with the massive demand for Apple Inc's iPhones.
"It's not easy to make the iPhones. We are falling short of meeting the huge demand," Foxconn Chairman Terry Gou told reporters after a business forum.
However, he declined to comment on brokerage reports saying that the group's other unit, Foxconn International Holdings (FIH), had taken on some production.
Hon Hai Precision Industry, the main listed entity of the parent Foxconn Technology Group, is the key assembler of Apple's iPhones.
The group also owns FIH, which traditionally assembles non-Apple products, such as phones from Nokia Oyj and Huawei Technologies Co Ltd.
Shares of Foxconn International Holdings Ltd (FIH), the world's biggest contract maker of cellphones, surged as much as 35 percent on Monday after Citigroup upgraded the stock to a 'buy' and said it expected the firm to start assembling iPhones this year.
Shares of FIH fell 5.7 percent in Hong Kong on Wednesday, while Hon Hai was up 0.6 percent in Taipei.
(Reporting by Clare Jim and Lee Chyen yee; Editing by Anne Marie Roantree)
- Tweet this
- Share this
- Digg this
- Pro-independence Scots narrow gap to victory ahead of vote - poll
- UK's fate in the balance as poll shows record support for Scottish independence
- Kremlin adviser says military strategy to reflect Ukraine crisis, NATO expansion - RIA
- Europe drafts emergency energy plan with eye on Russia gas shut-down
- Low-carb diets may beat low-fat options for weight loss, heart health