Foxconn reported a sizable loss today. APPL could be ready to short.
HONG KONG (Reuters) - Foxconn International Holdings Ltd (FIH), the world's biggest contract maker of cellphones, fell into the red in 2012 with a net loss of $316.4 million due to weak orders from some of its major customers.
The loss, the company's biggest since its listing in 2005, was slightly smaller than an average estimate of $317.9 million from a Thomson Reuters I/B/E/S poll of 10 banks and brokerages.
FIH had reported a net profit of $72.8 million in 2011, it said in a statement on the Hong Kong stock exchange on Thursday.
"FIH's fundamentals remain lackluster due to a lower-than-expected sales contribution from new customers (Amazon/Apple) and increasing low-margin orders from China smartphone customers (Xiaomi/Huawei)," Dale Gai, an analyst at Barclays Research, said in a report before the earnings release.
Market Data 
Markets 
AI
