Foxconn blames Nokia and Motorola for huge losses - PC Retail

Foxconn blames Nokia and Motorola for huge losses

Manufacturer reports net loss of $226m
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Foxconn International has put its worst-ever first-half net loss down to ‘sluggish orders’ from key clients, such as Nokia and Motorola.

The manufacturer posted its $226m net loss for the January to June period on Monday, compared to a loss of $18m for the same time frame a year earlier.

As well as blaming poor earnings on sluggish orders, Foxconn has also blamed the slowing global economy.

"Looking forward, challenging economic conditions around the world may continue to cast uncertainties in our business environment," the company said in its earnings report.

"The management team remains cautious over the future handset market conditions in 2012."

Foxconn’s shares have slumped more than eight per cent after the earnings report was released.

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