Despite rising wages in China, where most of its factories are based, Hon Hai announced that net profit for the first nine months of 2012 rose by 24 percent, to $1.9 billion, compared to the same period in 2011.
While it does not make public information regarding how much of this profit derives from its business with Apple, however it is a widely held belief throughout the industry that this does a significant amount. In its first weekend of release alone, the iPhone 5, Apple’s latest version of its flagship smartphone, is thought to have recorded more than five million sales.
Employing more than one million people globally, Hon Hai is the world’s largest contract manufacturer, making products for other electronics companies including Hewlett Packard, Nintendo and Sony.
