FIH issues profit warning for 2009 results Tweet

Foxconn International Holdings (FIH), the Hong Kong-listed handset subsidiary of Foxconn Electronics, has issued a profit warning to its shareholders and potential investors that it expects consolidated results for 2009 to show a significant decline in net profits as compared to 2008.

FIH posted a net loss of US$17.88 million on revenues of US$3.16 billion for the first half of 2009, according to an earlier company statement.

Although FIH has switched its focus to smartphones and also landed smartphone orders from branded vendors and telecom service providers, the company's second-half results could be worse than the first half due to adverse market conditions and asset impairment, according to market sources.

FIH is scheduled to announce the results for the second-half as well as all of 2009 at the end of April 2010.

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