By Michael Gold TAIPEI (Reuters) – Taiwans Hon Hai Precision Industry Co Ltd reported a third consecutive quarterly profit gain Wednesday as the worlds largest contract maker of electronic goods continued to benefit from demand for products from No.1 client Apple Inc. Hon Hai, also known as Foxconn, earns as much as 50 percent of revenue assembling Apple devices such as iPhones and iPads, analysts say. In the meantime, the widely expected release in the coming months of larger-screen iPhones will keep Apple as Hon Hais biggest cash cow for the foreseeable future, according to company-watchers. Still-hot sales of iPhones drove Hon Hais net profit in April-June to T$20.19 billion ($673 million), versus the T$17.66 billion mean estimate of 13 analysts polled by Reuters. Shares of Hon Hai closed up 1.4 percent before the earnings release on Thursday, versus a 0.7 percent rise in the benchmark TAIEX index.
Taiwan’s Hon Hai notches third straight quarterly profit rise
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2014
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