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iPod Maker's Owner Sees 43% Jump in Profits

Thursday, August 31st, 2006 at 3:30 PM - by

Hon Hai Precision Industry Co., which owns iPod maker Foxconn Technology Group, saw its second quarter profits jump 43% compared to last year, according to a Bloomberg article. Hon Hai said that demand for iPods, as well as other MP3 players, and cell phones led the way. The company also supplies parts used in Sony's PlayStation 2.

Hon Hai's overall sales were also up 30%, and net income and sales for the first six months of the year climbed 40% and 30%, respectively, from 2005. The company's stock is up 24% so far this year, far outpacing the Taiex index's 1% growth.

Thanks to Macworld UK for the link.

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