Hon Hai banks record profit as Apple expands product line

“Hon Hai Precision Industry Co. (2317), the world’s largest contract manufacturer of electronics, posted record annual profit after Apple Inc. (AAPL) released a new iPhone and three versions of its iPad,” Tim Culpan reports for Bloomberg.

“Net income climbed to NT$94.8 billion ($3.2 billion) in 2012, the Taipei-based company said in an exchange statement today,” Culpan reports. ” Revenue climbed to a record NT$3.9 trillion.”

Culpan reports, “Hon Hai, the Taipei-listed flagship of Terry Gou’s Foxconn Technology Group, benefited from Apple’s decision to broaden its product line up and record opening-weekend sales of the iPhone, its top-selling product.”

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